daytrades jan 24 afternoon

Thanks Tweets. Half-time round-up:

Australian shares jagged in and out of positive territory this morning as risk appetite was impacted by a flood-related profit downgrade from Woolworths.

At lunchtime the ASX 200 was ahead 9 points or 0.2% at 4764 as gains in the big banks offset falls among gold and energy stocks, small caps and consumer staples.

"Banks are pulling in the big points," IG Markets dealer Chris Weston told Fairfax. "That's being offset by a little bit of weakness in the materials, but most of the points are coming out of the [consumer] staples and energy sectors."

Shares in Woolworths fell nearly 3% this morning after the supermarket giant cut its profit guidance, citing uncertainty following Australia's floods and an earthquake in New Zealand.

Inflation concerns eased after the producer price index rose less than expected last quarter. The index rose just 0.1% in the December quarter for an annual rate of 2.7% - much weaker than the 0.5% rise and annual rate of 3.2% tipped by economists.

Asian markets were mixed. Japan's Nikkei rallied 0.28% this morning. Shanghai opened ahead but was lately down 0.2%. Hong Kong's Hang Seng 0.39%. Dow futures were recently at +4.

Crude oil futures rallied 30 cents or 0.3% to $89.41 a barrel. Spot gold was $5.60 stronger at $1,348 an ounce. The dollar was buying 98.77 U.S. cents.


A tricky morning, with gold stocks well and truly under the pump. My day pretty much hinges on whether SDL can stage a reversal from here. Doubled my standard stake when it reached the low 40s. Caught a small bounce in KAR earlier and took a small position in HAR.