daytrades april 23 afternoon

Originally posted by Exella ↑

Thanks HLL

With mixed leads from offshore markets overnight the local share market is lower at midday weighed down falls in the banks and mining stocks, with the miners pressured by weaker base metals prices.

All Ordinaries index had fallen 13 points, or 0.26 per cent, to 4,923.8 points.

Analyst said "It's more about Friday profit taking ahead of the long weekend. A weak lead from Europe wasn't good for investor sentiment but we do have to remember that Greek (economic) concerns are not going to effect investors here in Australia."

Shares in biopharmaceutical company CSL Ltd (CSL) have taken a hit today after US peer Baxter International cut its full year forecast. Baxter International, which is the largest producer of plasma medicines in the US, slashed its guidance for the year due to a slowdown in sales. Despite comments the industry was recession proof, it appears the GFC has finally caught up, with Baxter reportedly saying it overestimated strength in the market. Consequently CSL, which is the second largest producer of plasma medicines in the US, saw its shares tumble in response. Shares in CSL plunged 7.19% to $33.97.

MAp Group (MAP) says first quarter earnings at Sydney Airport rose 13% driven by a strong rebound in passenger numbers. Profit for the three months to March 31 came to $187.06 million, up from $165.34 million in the March quarter of last year. Revenue rose 11.7% to $228.61 million, with passenger numbers up 9.4% in the quarter compared to last year. Since 2008, $700 million has been invested to meet passenger needs and support traffic growth, with a further $1 billion earmarked for ongoing investment over the next five years. MAp Group reported a $572.7 million loss for 2009.

The best performing sector at midday is the Real Estate Investment Trust index, up 13 points to 895.

The worst performing sector is the Health Care index, down 380 points to 8,677.

Gold is trading at US$1,139.70 an ounce and the Aussie dollar is trading at 92.62 US cents.

MORNING TRADES
CSL: $33.60/$34
JAL: .094c/.099c

http://www.marketwatch.com/
http://www.thebull.com.au/
http://www.news.com.au/business/

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