Thanks Beany and morning regulars. Half-time round-up: Upbeat US...

Thanks Beany and morning regulars.


Half-time round-up:

Upbeat US equity futures and a pullback in oil helped the Australian share market recoup almost half of yesterday's steep losses this morning.

At lunchtime the ASX 200 was trading 39 points or 0.7% ahead at 5918 with all sectors higher except gold (-1%). Yield sectors were back in vogue, highlighted by gains in utilities +1.8%, consumer staples +1.3%, property trusts +1.1% and telecoms +1%.

The gains came as US futures signalled a possible rebound in stocks tonight after four days of selling. Dow futures were recently up 62 points or 0.35%. Also helping sentiment was a retrace in crude oil futures of 52 cents this morning to US$50.91 a barrel and a decline in the US dollar index of 0.15%.

China's Shanghai Composite and Hong Kong's Hang Seng eased 0.11%. Japan's Nikkei rallied 0.52%.

Spot gold was $4.30 weaker at US$1,200.50 an ounce. The dollar was buying 78 US cents.


Looks like a few bets are being laid that the S&P 500 bottomed overnight and will rebound tonight. Hope so - otherwise the XJO will have a lot of messy realigning to do on Monday. SKB provided some thrills this morning. but for real excitement, go sky dive. I dived the beach at the 'Gong with them a few years back. Well-run operation - I mean, I'm still here. Mind you, the dive took so much out of me that I lay down for a moment when we got home in the early afternoon and woke up three hours later. Trading: caught the first bounce in 1PG for a a bright start to the session. Took beer money from a part-fill in AJX. Ahead in 3DM off the low.