Midday Market Analysis: Cautious Gains
22nd May 2012
Midday Market Analysis: Cautious Gains
The Aussie market is enjoying a second consecutive positive session so far today, with the local bulls running with the positive leads provided by international markets.
The XJO is presently 30 points (+0.8%) above water, at 4105.
The gains are widespread, with investors pouring back into equities from all sectors.
Telcos and consumer staples are amongst the strongest, whilst financials and materials are the laggards but still collectively in positive territory.
In company news, Leighton’s has advanced 3.2% after reiterating its full year guidance of between $400 million and $450 million at its AGM.
Elsewhere, Thorn Group has jumped 5% after announcing a FY12 net profit $27.8 million a 26% rise from a year earlier.
Around the region, Asian markets are all trading higher; the Hang Seng is up 0.9% whilst the Nikkei is 1% stronger.
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Written by: marketpulse
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