Midday Market Analysis: Soft Aussie
In light of the leads provided by international markets, the Aussie market is putting in a lacklustre performance so far today.
The XJO is currently slightly underwater, holding around 4370.
Most sectors are in the red, with healthcare, energy and materials the weakest performers, whilst IT, telcos and consumer staples are helping to hold the index up.
In company news, Macquarie group is up 3% after reporting a FY net profit of $730 million, a 24% drop from the previous year, meeting market expectations.
Elsewhere, Atlas Iron has climbed as much as 1% after announcing that it remains on track to meet its full year production guidance of between 5.5 million and 5.7 million tonnes of iron ore.
Around the region, Asian markets are mixed; the Hang Seng is up 0.3%, whilst the Nikkei (-0.1%) and Shanghai Composite (-0.1%) are slightly weaker.