Australian Stock Report - Market Pulse
Midday Market Analysis: Aussie Stronger So Far
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Publish date: Tue, 23 Oct 2012, 01:53 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.
The Aussie market is slightly stronger so far today, following the mixed leads from international markets overnight. The XJO is presently 11 points (+0.2%) ahead, holding around 4552.
Most sectors are in the green, despite the minimal point gain for the index. Property and telcos are the best performers collectively, whilst IT and utilities are the weakest links.
In company news, Discovery Metals is up 5.8% after Shanghai-based Cathay Fortune and partner China-Africa Development Fund said they would take the cash offer of $1.70 a share directly to the company’s shareholders.
Elsewhere, OZ Minerals has advanced 2.7% after announcing a 2.4% fall in third quarter production, but maintaining its full year guidance. Around the region, the Nikkei is up 0.2%.
Midday Market Analysis: Aussie Stronger So Far is a post from: Australian Stock Report Market Pulse Blog
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