Afternoon trading September 28

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

Half-time wrap:


Australian shares struggled once again for a significant gain after retail sales missed expectations and a 10-month high in oil prices boosted energy producers.

The ASX 200 overcame early weakness to advance two points or 0.03% by mid-session. The Australian benchmark has not managed a double-digit gain in two weeks. Seven of the last nine sessions have been losses as the threat of higher rates in the face of stubborn inflation encouraged investors to reduce their exposure.

The energy sector set the pace, gaining 2.8% as Brent crude targetted US$100 a barrel. Santos and Woodside both put on more than 2.7%.

Gold miners dragged after the price of the precious metal slumped to a six-month low. Newcrest skidded 4.6%, West African Resources 4.19% and Gold Road Resources 2.71%.

In economic news, retail sales increased last month, but by less than expected. Sales growth was a tepid 0.2%, down from a pace of 0.5% in July. Economists predicted growth of at least 0.3%.


Personal trading: Squeezed a few hundred from BKY, but that was it.