The Australian share market was lower at noon as stronger energy stocks failed to counter a negative lead from the US. All Ordinaries fell 17 points, or 0.36 per cent, to 4835.
Some analysts are saying "I think as it's inevitable that as we approach 5000 points and BHP (BILLITON) gets to $40, the market will get a bit tentative. It wouldn't surprise me if it became a bit more reflective as it gets closer over the next few months ... could get there at Christmas."
The Westpac-Melbourne Institute leading index of economic activity, which indicates the likely pace of activity three to nine months into the future, jumped 1.1% in August to a 1.7% annualised rate in August versus minus 1 in July. The August reading is the first positive one for the index since September 2008.
ASIC has launched legal action against eight directors and executives in the Centro Properties Group (CNP), claiming their 2007 accounts failed to correctly classify more than $2 billion of debt. The corporate regulator says it’s seeking to have the men disqualified from being able to manage companies, and wants them fined by the courts. Former Centro Chairman Brian Healey and former Chief Executive Officer Andrew Scott as well as Paul Cooper, the group's current chairman - are among the defendants in the case brought against directors of the company by ASIC.
The sector with the biggest gain is the Telco index which gained 17 points to 1,102.
The sector with the biggest loss at midday is the Materials index, down 131 points at 11,878.
Gold is trading at US$1,053.90 US an ounce and the Aussie dollar is trading at 92.2US cents.
22 October China consumer price index (CPI), Sep China fixed asset investment, Sep China industrial production, Sep China producer price index (PPI), Sep China real GDP, Q3 China retail sales, Sep Contact Energy - AGM EU current account, Aug Japan trade balance, Sep UK retail sales, Sep US Conference Board leading indicators US FHFA house price index, Aug
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Learn how to read candlestick chart and its pattern. Technical analysis is the soul of day trading. Please take time to get familiar with all the tools you can use. Basically, you will just need to know simple average lines: 20 day and 50 day moving average line, MACD, RSI, and Volume.
