Afternoon trading February 28

Thanks @shovel40, @Fiji1 and morning crew.

Half-time wrap:

The share market declined despite news that annual inflation held steady last month, defying gloomy expectations for an increase in pricing pressures.

The ASX 200 eased 15 points or 0.19% as the domestic earnings season neared its conclusion. Down-pressures included pending dividend payments from Fortescue Metals, Telstra and Woolworths. Wesfarmers and the major banks also weighed. Tech companies and resource stocks resisted the downtrend.

Headline annual inflation was unchanged at 3.4% last month as increases in housing, food, alcohol and insurance were partly offset by declines in the cost of holiday travel and accommodation. Economists had predicted an uptick to 3.6%. Underlying annual inflation, excluding volatile items like fuel and vegetables, eased to 4.1% from 4.2% in December.

AMP chief economist Shane Oliver said the report was "good news". Betashares chief economist David Bassanese said the data "should be broadly reassuring to the RBA and, on balance, reduces the risk it might consider yet another rate increase in coming months."

US stocks finished mixed overnight as prices continued to consolidate following last week's leap to record levels. The S&P 500 firmed 0.17%. The Dow dropped 0.25%.


Personal trading: Another busy morning. Got in near the low in HLS. Missed IPH's retreat to obvious support yesterday, but caught it today to no great result. Pip from EVR at 1.2c. Also caught a few pips from AUA. Watching W2V and ENV for scalp opps.