Afternoon trading November 29

Thanks @shovel40, @Fiji1, @Patterns and morning crew.

No idea what the hitch is with posting charts/images, etc, this morning on HC, but it certainly makes the forum a drabber, less useful place. A picture paints a thousand words and all that. Fingers crossed the issue can be resolved before we lose some great contributors.


Half-time wrap:

Progress in the Reserve Bank's war on inflation helped the share market build on a second day of gains as trader bet the central bank can afford to leave interest rates on hold next month.

The ASX 200 rallied 30 points or 0.43% by mid-session. The rate-sensitive REIT and tech sectors were among the leaders after a mid-morning report soothed concerns that inflation was stalling well above the RBA's target range.

The monthly Consumer Price Index came in at +4.9% for the 12 months to October, down from +5.6% in September and below the +5.2% growth predicted by economists. Core inflation also declined, dropping to 5.1% from annual growth of 5.5% in September.

The yield on 10-year Australian government bonds dropped 14 basis points following the report as bond traders reassessed the chance of another rate hike. The dollar dipped a tenth of a US cent.

"Yesterday's cooler-than-expected retail sales and #inflation print today should give the #ASX200 the shot higher it's been looking for into year-end towards 7200," IG market analyst Tony Sycamore tweeted.


Personal trading: AGY offered an attractive entry. Also took FFG to no great effect yet.