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Midday Market Analysis: Holding Up

The Aussie market is presently little changed, with the XJO bouncing back from early morning weakness and holding up quite well in the face of bearish leads.

The index is currently holding around 4360. The sectors are evenly balanced between winners and losers, with the telco, healthcare, and industrial segments leading the gains.

Conversely, consumer discretionary, energy and consumer staples are the weakest links. In company news, Woolworths has offloaded electronics chain Dick Smith to private equity group Anchorage Capital Partners for a bargain price of $20 million, ending an eight-month search for a buyer.

Around the region, Asian markets are mainly stronger; the Hang Seng is up 0.5% whilst the Nikkei is flat.

 

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

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