Midday Market Analysis: Positive Aussie
26th Apr 2012
Midday Market Analysis: Positive Aussie
The Aussie market is enjoying a positive session so far today, although the XJO has come off its early highs.
The index traded as high as 4394 but has rolled over a touch to currently be trading approximately 20 points above water, at 4380.
The gains are widespread, with IT, telcos and financials the strongest performers, whilst consumer discretionary plays and property trusts are the weakest links.
In company news, Seven West Media shares have plummeted more than 16% after it cut its earnings forecasts due to continued weakness in the advertising markets.
Elsewhere, Lend Lease is down 1.4% after agreeing to pay US$56 million in penalties and restitution in relation to a decade-long fraud involving routinely overcharging customers.
Around the region, Asian markets are mixed; the Shanghai Composite is down 0.2%, whilst the Hang Seng (+0.6%) and Nikkei (+0.1%) are stronger.
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Written by: marketpulse
Other posts from: marketpulse
Posted in Market Analysis, Midday
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