Australian Stock Report - Market Pulse
Midday Market Analysis: Local Bulls Run
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Publish date: Wed, 31 Oct 2012, 01:46 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 performing well today, following the solid leads provided by European markets last night. Every sector is in the green, with IT and materials stocks leading the move higher.
In company news, NAB is trading flat after reporting a 22% slump in annual profits, with its UK business gaining dragging on the company's results.
Elsewhere, Transpacific Industries shares have dropped 10.1% after reporting a 6% drop in first quarter earnings. In economic news, data released this morning showed a rise of 7.8% in residential building approvals in September.
Economists’ forecasts had centred on a 1% rise in approvals for September. Around the region, Asian markets are all trading higher; the Nikkei (+1%) and Hang Seng (+0.6%) are amongst the best performers.
Midday Market Analysis: Local Bulls Run is a post from: Australian Stock Report Market Pulse Blog
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
