Australian Stock Report - Market Pulse

Midday Market Analysis: Weaker At Noon

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Publish date: Mon, 08 Oct 2012, 02:43 PM
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Despite the mostly stronger lead provided by global markets on Friday night, Aussie shares are slightly underwater so far today. The XJO is presently down 14 points (-0.3%) at 4479.

Most sectors are weaker, with utilities, IT, and property stocks the weakest links. Conversely, telcos, health care and industrials are the strongest performers. In company news, Aquarius Platinum is down 2.7% after announcing that CEO Mr Stuart Murray has resigned.

Elsewhere QR National has jumped 5% after announcing it has signed an agreement with Queensland Treasury Holdings to buy back $1 billion worth of shares at $3.47 a share. Around the region, Asian markets are lower with the Hang Seng down 0.7%.

Midday Market Analysis: Weaker At Noon is a post from: Australian Stock Report Market Pulse Blog

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