Midday Market Analysis: Hanging Around
The Aussie market is slightly underwater after the morning session, with the XJO off 0.1% to 4430.
IT, utilities and energy are the weakest sectors, whilst property trusts, consumer discretionary and consumer staples are the strongest.
In company news, Tabcorp is up 1.4% after announcing that its 3Q revenue was $724 million, up 2.7% on previous corresponding period.
Elsewhere, Asciano has climbed 0.9% after revealing that coal volumes from its Pacific National Coal division climbed 2.6% to 27.3 million metric tons on year.
Around the region, Asian markets are predominantly weaker; the Hang Seng (-0.6%) and Shanghai Composite (-0.2%) are weaker, whilst the Nikkei is up 0.3%.