Thanks Endless. Half-time round-up: A breakout session saw...

Thanks Endless.

Half-time round-up:

A breakout session saw Australian shares hit a post-GFC high this morning as a jump in inflation drove the dollar up half a cent.

At lunchtime the ASX 200 was ahead by 48 points or 0.9% at 5591, with all sectors recording gains. The best returns came in metals & mining (+1.6%) after BHP announced record iron ore production this morning. Materials rallied +1.4%, consumer discretionary +1.1%, energy +1% and financials +0.8% as the index reached a level last visited in June 2008.

The index temporarily pared gains following the 11.30am EST release of inflation data that showed the consumer price index rose 0.5% last quarter for an annual rate of 3%, at the top of the RBA's target band. The weighted median measure favoured by the Reserve Bank came in at 0.6% for the quarter and 2.7% year-on-year. The readings were broadly in line with expectations. The dollar jumped nearly half a cent in response, recently buying 94.35 US cents.

Asian markets extended yesterday's gains. China's Shanghai Composite rose 0.28%, Hong Kong's Hang Seng 0.49% and Japan's Nikkei 0.01%. Dow futures were recently up one point or less than 0.1%.

Spot gold was 80 cents weaker at US$1,306.60 an ounce. Crude oil futures were at US$103.89 a barrel.


Run, Forrest, run. Been a long wait for this breakout but it's finally happening. If it continues, maybe one day I'll get a chance to back-reference a month other than June 2008. That would be so cool. Trading: YRR came good from Monday, delivering the sort of profit that robs a fellow of much incentive to go hard for the rest of the day. Nonetheless, my dour Calvinist work ethic kept me at the grindstone, snatching scalps from the likes of IXR, BIT and TON.