Midday Market Analysis: Aussie Holding Steady
The Aussie market is simply treading water so far today, currently less than five points underwater, at 4287.
Not surprisingly the sectors are fairly well balanced, with healthcare, energy and IT the best, and consumer staples, telcos and materials the worst.
In company news, Suncorp posted a 1H FY12 profit of $389 million, a 74.4% rise compared to the same period in FY11. The results beat analyst expectations.
Elsewhere, CSL revealed a 1H FY12 profit of $483.3 million, a 3.4% fall on the previous corresponding period. The result missed analyst expectations.
Around the region, Asian markets are mainly weaker; the Hang Seng is off 0.6% whilst the Nikkei is amongst the few gainers, up 0.1%.