Australian Stock Report - Market Pulse
Midday Market Analysis: Flat Aussie
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Publish date: Mon, 10 Sep 2012, 01:38 PM
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Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.
Midday Market Analysis: Flat Aussie
The Aussie market is little changed so far today, with the local bulls failing to capitalise on the leads provided by international markets on Friday night.
The XJO is currently five points (-0.1%) weaker, at 4320.
Most sectors are weaker, with consumer staples, consumer discretionary and financials the weakest links.
Conversely, materials and industrials are the best performers.
In company news, Fisher & Paykell Appliance shares have surged 28.5% after receiving an expression of interest in making a takeover offer from major shareholder Haier.
Elsewhere, Grange Resources is up 8.5% after reaffirming its CY12 production guidance of approximately 2.3 million tonnes of iron ore.
Around the region, Asian markets are mainly stronger; the Hang Seng is up 0.2% whilst the Shanghai Composite has firmed 0.3%.
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