Australian Stock Report - Market Pulse
Midday Market Update:
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Publish date: Mon, 04 Feb 2013, 02:38 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.
After a positive start, the Aussie market has dipped into the red heading into the afternoon session. The ASX200 is presently down two points, at 4919.
Financials and healthcare stocks are weighing on the market, while materials are holding up thanks to commodity price gains in Friday's night international session.
In company news, Aquila Resources has announced that due to a budgetary dispute with West Pilbara Iron Ore Project partner, AMCI, it has suspended the project until at least June 2013.
In the latest economic news, Australian building approvals surprisingly slumped 4.4% in December whilst the number of job advertised fell for a 10th consecutive month in January, according to the latest ANZ Job Ads survey. Around the region, Asian markets are generally higher. The Nikkei and Hang Seng are up around half a percent each.
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