The Aussie market is enjoying very modest gains today on the back of the mostly positive leads provided by international markets overnight.

The XJO is presently eight points stronger, holding around 4395. The sectors are mixed evenly between winners and losers, with a strong gain in the materials sector driving the overall market higher.

Conversely, healthcare, utilities and IT are the weakest links. In company news, Billabong has plummeted over 16% after announcing the highly speculated withdrawal of the takeover bid from private equity firm TPG.

Around the region, Asian markets are higher; the Shanghai Composite (+1.3%) and Hang Seng (+0.8%) are both enjoying solid gains.

Midday Market Analysis: Modest Gains is a post from: Australian Stock Report Market Pulse Blog