DT Feb 22 afternoon

Thanks Oscar and morning crew.


Half-time round-up:

Shares edged higher for the first time in four sessions, during the heaviest day of the domestic earnings season.

At 1pm EST the ASX 200 was eight points or 0.1% ahead at 5799 after overcoming an early drop to 5780 as traders digested a slew of economic figures and corporate reports. Leading the reversal were the consumer staples sector +2.2%, health +1.2% and industrials +0.8%. The biggest weights at the halfway mark were gold -1.1%, financials -0.5% and metals & mining -0.3%.

Among the best of the morning's reports were MMS, VOC, FXJ and WOW. Among those receiving the big stick from disappointed traders were ISD, BKL and FBU.

The morning's economic reports appeared to dampen expectations that the Reserve Bank will raise rates any time soon. Wages increased just 0.5% last quarter for an annual growth rate of 1.9%, the weakest on record. Construction work declined 0.2%, an ominous sign for GDP.

Most Asian markets struggled for momentum, despite another record close in the US overnight. China's Shanghai Composite dipped 0.07% and Japan's Nikkei 0.19%. Hong Kong's Hang Seng bucked the trend with an early rise of 0.61% Dow futures were recently up 10 points or 0.05%.

Crude oil futures gained 12 cents or 0.2% this morning to US$54.44 a barrel. Gold futures eased $1.10 or 0.1% to US$1,237.90 an ounce. The dollar was buying 76.82 US cents.


Thought we'd see better gains today. The market headed south until those economic numbers came out. Share market reaction might be currency related or fundies adjusting their rates expectations. Trading: stalked a few, but LYC is my only buy so far. Only looking for half a pip - doing a lot of that sort stuff lately. Lower risk but lower return. Working on taking the 'cavalier' out of my trading.