Half-time round-up:
Shares hit a ten-week high this morning before turning lower for the first session in five.
At lunchtime the ASX 200 was down 7 points or 0.15% at 4837 on low volume after earlier touching 4867, the index's highest level since late October. Most sectors were lower, with consumer staples +0.2%, telecoms +0.2% and financials +0.1% the few to advance. The mining sector dipped 0.4%, gold shares lost 1% and IT 1.1%.
The cash price for iron ore delivered to China has hit its highest level this year after India increased taxes on its exports. Ore delivered to China jumped 2.9% to $112.10 a metric ton, according to Bloomberg. The price has more than doubled since the March low. India, the worlds third-largest exporter, imposed a 5% duty on exports of iron-ore fines.
Most Asian markets followed Wall Street lower. Japan's Nikkei fell 0.24% and Hong Kong's Hang Seng 0.14% but the ever-contrary Shanghai rose 0.25%. Dow futures were a mildly bearish -20.
The spot gold price continued to slide this morning, down another $3.40 to $1,093.40 an ounce. Crude oil futures were little changed, up 4 cents at $78.74 a barrel.
Another sluggish morning here. Scalped ABZ off its lows. Picked up a few RHC at $10.95. No great expectations but looking for a few points this afternoon.
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