daytrade diaries... december 16 part 2, page-4

The Australian share market was marginally higher at noon with positive results in the resources and financial sectors.

All Ordinaries had added 5.7 points, or 0.12 per cent, at 4,693.

Analyst said "The market is just barely in positive territory with a mixed result from resources, and the banks just scraping into positive territory,"

According to the ABS, gross domestic product in the third quarter rose 0.2% from the previous quarter, up 0.5% compared to the same time last year.

Westpac Banking Corporation (WBC) has again tried to defend its decision to raise interest rates by 45 basis points, by saying that it would do no favours to anyone by offering mortgages at rates that it knows to be unsustainable. At the companys AGM Chairman Ted Evans told investors that the bank has absorbed some of the external cost increases, rather than pass them on to borrowers at the expense, of course, of shareholders. Mr Evans says with interest rates now clearly on the rise again, both at home and abroad, there are limits to how long the bank could continue to absorb these costs without weakening the bank, the Australian financial system and, hence, the Australian economy. Westpac shares gained 0.38 per cent to $23.89.
The best performing sector at midday is the Telco Services index, up 13 points at 1,190.

The worst performing sector at midday is the Consumer Staples index, down half a point to 7,538.

Gold is trading at US$1,122.50 an ounce and the Aussie dollar is trading at 90.42 US cents.

http://www.marketwatch.com/
http://www.thebull.com.au/
http://www.news.com.au/business/

Risks You Should Be Aware Of

Sector risk The risks associated with an industry's specific products or services such as, demand for the product or service; commodity prices; the economic and industry cycles; changes in consumption patterns; lifestyle and technology changes. This may be minimised by detailed research to identify quality investments, reviewing their performance and their place in a portfolio.