Share indexes struggled to hold early gains this morning as a plunge in export prices raised fresh questions about the outlook for the local economy.
At lunchtime, the ASX 200 was up 4 points or 0.1% at 3999 after touching a high of 4026 soon after the market opened. Gains this morning were fronted by the energy sector (+0.9%), property trusts (0.3%) and financials (+0.2%).
Trade data released this morning showed a 20.6% fall in export prices in the June quarter, worse than the 16% fall expected by analysts.
Asian markets fared better. The Nikkei added 0.42% and the Hang Seng 1%. Dow futures were recently at -36. Oil continued to ease, currently trading at $61.61, down 38 cents since this morning's post.
A quiet morning here at the end of a busy week. Sold half CTP at 8.8 to lock in profits when it retraced a second time. Happy to hold the rest for now - still think mid 9s are possible next week. Nailed a small bounce trade in DUE. Perfect entry at the day's low, but the usual premature exit.
Overnight holds: none of the breakout alerts I set this morning have been triggered, but UNO would have been nice. CUE looks promising if it closes a touch higher.
