Financials and healthcare stocks are weighing on the market, while materials are holding up thanks to commodity price gains in Friday’s night international session.

In company news, Aquila Resources has announced that due to a budgetary dispute with West Pilbara Iron Ore Project partner, AMCI, it has suspended the project until at least June 2013.

In the latest economic news, Australian building approvals surprisingly slumped 4.4% in December whilst the number of job advertised fell for a 10^th consecutive month in January, according to the latest ANZ Job Ads survey. Around the region, Asian markets are generally higher.  The Nikkei and Hang Seng are up around half a percent each.

Midday Market Update: is a post from: Australian Stock Report Market Pulse Blog

The XJO is presently 10 points (+0.2%) in the green, at 4390. The sectors are fairly evenly balanced between winners and losers, with utilities, financials and telcos the best performers whilst energy, industrials and healthcare stocks are the weakest links.

In company news, Webjet has been down as much as 10% today, after releasing market guidance which failed to impress the market.

Elsewhere, CSR has jumped over 6%, after reporting a 60% slump in first half profit, which was better than the market expected. In local economic news, consumer confidence surged higher in October, according to the latest Westpac Consumer Sentiment survey.

The consumer sentiment index rose 5.2% to 104.3. It is the highest level the index has been at in 19-months, and the first time over 100 in nine months.

A reading above 100 indicates that more consumers are optimistic about the economy than pessimistic. Westpac Chief Economist Bill Evans said the result was surprising and explains the strong uplift to households becoming

Midday Market Update: Aussie Going Nowhere is a post from: Australian Stock Report Market Pulse Blog

Every sector is weaker, with financials, energy and industrials the poorest performers. In company news, IPL has jumped over 4% after releasing its FY12 results which beat market estimates.

Elsewhere, QBE has been down as much as 6%, following a raft of broker downgrades after the insurance group downgraded its earnings yesterday.

Around the region, Asian markets are all weaker; the Hang Seng (-0.7%) and Nikkei (-0.2%) are amongst the worst performers.

Midday Market Analysis: Aussie Smashed is a post from: Australian Stock Report Market Pulse Blog

Most sectors are weaker, with energy, industrials and materials the weakest links whilst telcos and utilities are doing their best to prop the market up.

In company news, Bluescope Steel has been down as much as 5% after announcing the cancelation of a planned US$300 million offer because of recent volatility in the US credit markets.

Elsewhere, CCV has jumped over 9% after releasing its September quarter report in which it stated that its unaudited EBIT increased 43% to $14.2 million due to strong performance of the personal loan books in Australia and the UK.

In economic news, the latest ABS today revealed that home loans approvals are on the rise. The bureau says 46,395 home loans were approved in September, 0.9% more than the 45,983 that got the green light in August.

Economists had expected housing finance commitments to rise 1% in September. The ABS says total housing finance by value rose 3.8% in September, seasonally adjusted, to $21.203 billion.

Around the region, Asian markets mainly weaker; the Hang Seng (-0.2%) and Nikkei (-0.6%) are both slightly in the red.

Midday Market Analysis: Aussie Treading Water is a post from: Australian Stock Report Market Pulse Blog

The XJO is presently down 20 points (-0.5%), at 4461. Most sectors are weaker, with utilities, financials and energy the weakest links, whilst healthcare and IT are the strongest performers.

In company news, Emeco Holdings has tumbled as much as 16% after downgrading its 1H13 NPAT from $29.2 million to now be within a range of $23 million to $26 million.

Elsewhere, banking majors NAB and Westapc went ex-dividend today and are down around 4% each.

Around the region, Asian markets are mainly weaker; the Hang Seng (-0.6%) and Nikkei (-0.9%)are amongst the poorest performers.

Midday Market Analysis: Aussie Holding Up is a post from: Australian Stock Report Market Pulse Blog

On the economic front, data released by the ABS showed the Australian economy gaining 10,700 jobs in October, smashing economist expectations of an addition of 200 jobs. The participation rate fell over the month from 65.2% to 65.1%.

The fall in participation rate coupled with the increase in jobs saw the unemployment rate stay steady at 5.4%, which was lower than the 5.5% rate predicted by economists. A breakdown of the figures revealed that part-time employment fell by 8,000 people, whilst full-time employment rose by 18,700.

In company news, GMG is in a trading halt after announcing that it will be raising $416 million of new capital at a 5.3% discount to its last traded price for the purpose of accelerating its current projects.

Elsewhere, Cabcharge has continued its decent, plummeting 8.8% after the NSW government opted not to renew a bus contract held by a JV of ComfortDelGro.

Around the region, Asian markets are all weaker; the Hang Seng (-1.1%) and the Nikkei (-1.3%) are amongst the hardest hit.

Midday Market Analysis: Aussie Taking A Hit is a post from: Australian Stock Report Market Pulse Blog

As would be expected, the sectors are fairly evenly balanced between winners and losers, with financials and IT the best performers and consumer discretionary and industrials the weakest links.

In company news, Platinum Asset Management is up 1.5% after the company reports a net profit after tax of $126.4 million, down 15.8% on year. In economic news, Australian retail sales rose slightly more than expected in October but could not prevent a dip in spending for the whole third quarter.

It was a mixed results which has shed little light on how the RBA will act this tomorrow at it latest interest rate meeting. The data showed retail sales rose 0.5% in September, from August when they edged up by 0.3%. The increase was just above forecasts of a 0.4% gain, yet inflation adjusted sales for the third quarter still dipped 0.1% due to weakness back in July.

Midday Market Analysis: Aussie Holding Up is a post from: Australian Stock Report Market Pulse Blog

In company news, NAB is trading flat after reporting a 22% slump in annual profits, with its UK business gaining dragging on the company’s results.

Elsewhere, Transpacific Industries shares have dropped 10.1% after reporting a 6% drop in first quarter earnings. In economic news, data released this morning showed a rise of 7.8% in residential building approvals in September.

Economists’ forecasts had centred on a 1% rise in approvals for September. Around the region, Asian markets are all trading higher; the Nikkei (+1%) and Hang Seng (+0.6%) are amongst the best performers.

Midday Market Analysis: Local Bulls Run is a post from: Australian Stock Report Market Pulse Blog

Most sectors are stronger at lunch, with telcos and healthcare leading the charge. Conversely, IT and property stocks are the laggards.

In company news, Telstra is up 0.7% after announcing that the sale of its wholly owned New Zealand subsidiary, TelstraClear, to Vodafone New Zealand, will push thru after the transaction is approved by regulators.

Elsewhere, Regis Resources has climbed 1.2% after releasing a quarterly report which showed an increase in production and lower cash costs. Around the region markets are stronger; the Nikkei is up 0.3%, whilst the Hang Seng has risen 0.1%.

Midday Market Analysis: Resilient Aussie is a post from: Australian Stock Report Market Pulse Blog

Most sectors are in the green, with utilities leading the way, followed by energy and industrial stocks. At the other end of the scale, healthcare and financials are the weakest performers.

In company news, PanAust is up 1.7% after announcing that it is on track to meet its FY13 target production of about 64,000t copper, 135,000oz gold and 650,000oz silver.

Elsewhere, GPT Group has advanced 1.4% after reaffirmed its upgraded guidance of at least 7% earnings per security growth. Around the region, Asian markets are little changed, the Hang Seng, Shanghai Composite and Nikkei have all moved less than one-third of a percent.

Midday Market Analysis: Solid Aussie is a post from: Australian Stock Report Market Pulse Blog