The Aussie market is little changed so far today, despite the local bourse enduring a fairly volatile morning. The XJO is presently flat, at 4460, and holding up fairly well in light of the leads provided by international markets on Friday night.
As would be expected, the sectors are fairly evenly balanced between winners and losers, with financials and IT the best performers and consumer discretionary and industrials the weakest links.
In company news, Platinum Asset Management is up 1.5% after the company reports a net profit after tax of $126.4 million, down 15.8% on year. In economic news, Australian retail sales rose slightly more than expected in October but could not prevent a dip in spending for the whole third quarter.
It was a mixed results which has shed little light on how the RBA will act this tomorrow at it latest interest rate meeting. The data showed retail sales rose 0.5% in September, from August when they edged up by 0.3%. The increase was just above forecasts of a 0.4% gain, yet inflation adjusted sales for the third quarter still dipped 0.1% due to weakness back in July.