Australian Stock Market Report – Midday 11/1/2012

By Juliette Saly, CommSec Market Analyst,

Shutterstock photo

(12pm AEDT)

The local share market is giving back yesterday's gains, with falls in energy, mining and financial stocks contributing to the sell-down. Overnight, Wall Street resumed trade for the first time since Friday night, with the Dow Jones Index finishing modestly lower. At lunchtime in the East, the All Ordinaries Index (XAO) is down 32.3pts or 0.7pct to 4503.1.

Energy, mining and financial stocks are all giving back, despite generally positive movement on the commodity front overnight. The US Nymex crude contract rose overnight by US56c or 0.7pct to US$86.24 a barrel. Shares in Caltex ( CTX ) are firmer, but Santos ( STO ) is down 1.2pct to $11.37 and Woodside Petroleum (WPL) is off 1.3pct to $33.97.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Commodities
Referenced Stocks: CTX , STO

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