Day Trading 28 Nov Pre Market

Morning all
Thanks weekend crew

SPI
XJO


Last week
A strong Friday session meant the ASX 200 closed above 5500 points for the first time in three months, thanks once again to the miners.
The benchmark index added 2.8 per cent, or 148 points, over the week to 5508, after adding 23 points today.
BHP climbed a massive 10 per cent over the five sessions, while Rio added 7.7 per cent, and South32 10 per cent.
Woodside climbed 5.8 per cent, rounding off a good week for resources, with the exception of gold miners:
Newcrest fell 5.8 per cent as the gold price plumbed mulit-month lows.
The big banks did their bit climbing around 1 per cent.
Telstra, too, as it recovered 2 per cent. Three in every five top 200 names gained in a broad-based rally.
Boral was the week's underperformer as it announced a multi-billion dollar US acquisition, accompanied by a multi-billion dollar capital raising. The stock fell sharply as a result, off 17 per cent. 1

Zinc powered to its highest levels in more than 8-1/2 years on Friday on continued fund buying but analysts cautioned that prices were outrunning supply/demand fundamentals.
Lead also extended its rally, hitting the strongest in 3-3/4 years

Benchmark LME zinc closed at $US2819 a tonne, a gain of 3.5 per cent and its highest since March 6, 2008. It marked up an 11 per cent rise for the week. Photo: Bloomberg
Zinc is the best performing metal on the London Metal Exchange this year, surging 77 per cent this year on fears that closures and suspensions of major mines will lead to shortages.
Benchmark LME zinc closed at $US2819 a tonne, a gain of 3.5 per cent and its highest since March 6, 2008. It marked up an 11 per cent rise for the week, the largest weekly increase since February 2010.
"I'm a bit speechless on the movements in the last few weeks because we haven't seen a lot of change in the fundamentals that would have warranted these sort of price rises," said Caroline Bain, senior commodities economist at Capital Economics.
"I'm afraid I do feel there's a huge element of speculation and at some point sentiment will turn and we could see quite a sharp correction."
The market in zinc, used to protect steel from corroding, is expected to see a 400,000-tonne deficit this year, a Reuters poll showed.
But this could be offset by inventories, which in warehouses approved by the LME and ShFE stand at more than 470,000 tonnes.
Lead, often mined in the same deposits as zinc, also pushed higher, helped by a 16 per cent fall in weekly inventories monitored by ShFE, bringing the stocks decline in China to 62 per cent since late July.
LME lead jumped 6.7 per cent to finish at $US2391.50 a tonne, the strongest since February 2013 and the biggest one-day gain in five years.
Most other metals were weaker, hit by speculators locking in profits from recent rallies and producer selling, but copper edged into positive territory by the close.
LME copper ended 0.2 per cent firmer at $US5879 a tonne after Chinese trade data showed refined copper imports fell 45 per cent year-on-year in October.
"However, we do not think this is signalling weakness in underlying copper demand and expect a rebound in China's copper imports soon," Barclays said in a note.
Aluminium shed 0.8 per cent to close at $US1757, nickel slipped 0.1 per cent to $US11,570 and tin fell 2 per cent to $US210,925. 1

Gold $1184
AUD Gold $1590
AUD .7449

Have a good day

1 SMH