daytrade diaries... september 16 part 2, page-7

The Australian share market was flourishing at noon, with solid gains across the board, in particular the banks and miners.

All Ordinaries rose 90 points, or 1.98 per cent, to 4637.2.
Some analysts are saying "All components are contributing.. but there's no specific reason, I think any moves from here will be more modest."

World airlines face losses of $US27.8 billion ($A32.26 billion) for 2008 and 2009 as the global economic downturn takes a heavier toll than the September 11 attacks, industry association IATA warned on Tuesday.

"That is larger than the losses of $US24.3 billion ($A28.2 billion) the industry lost in 2001 and 2002 after the attacks of September 11," said Giovanni Bisignani, head of the International Air Transport Association.

Economic growth in the second half of 2009 will be `tepid', but looks set for a brighter future in 2010, a private sector survey has found.

The annualised growth rate of the Westpac-Melbourne Institute leading index of economic activity, which indicates the likely pace of activity three to nine months in the future, was minus-1.8 per cent in July.

Telstra(TLS) shareholders should not be shocked by the federal government's move to split the telco and may even benefit in the long-term, an industry group says.

The Competitive Carriers' Coalition (CCC) said on Wednesday legislative reforms of the industry that may force Telstra to separate its retail and wholesale arms were not surprising.

"Much of the reaction to the government's announcement yesterday is, frankly, bemusing," CCC executive director David Forman said.

Manufacturer and distributor of mining and chemical products and services Orica Ltd (ORI) has written down the value of its Botany groundwater treatment plant assets in NSW to nil. The assets previously had a book value of $61.1 million before the write down.

The company says the write down will not effect the company’s commitment to the continued operation of the plant. Orica says this non cash write down will be recognized as an individually material item in the financial statements for the year to September 30 2009.
Airport owner Macquarie Airports (MAP) says it has agreed to sell its 35.5 per cent stake in Bristol Airport to Ontario Teachers Pension Plan for $244.3 million. The sale represents a 12.7 per cent discount to Macquarie’s June 30 valuation of Bristol Airport.

The company says it will also acquire a further 3.9 per cent stake in Copenhagen Airports from Ontario Teachers Pension Plan for $340 million, taking its interest in Copenhagen to 30.8 per cent. Macquarie says the two transactions will lift the company’s net cash reserves by around $120 million to approximately $900 million.

All sectors are in positive territory at midday, however the sector with the biggest gain is the Telco Services index up 36 points to 1,125. Shares in Telstra up 3.86 per cent at $3.23. Shares in IINet and Singapore Telecommunications are also higher at noon.

The sector with the smallest gain at midday is the Real Estate Investment Trust index, up 6 points at 915. Shares in Goodman Group down 3.31 per cent to $0.585. Shares in Macquarie Office Trust and Valad Property Group are flat.
Gold is trading at $1008.40 US an ounce and the Aussie dollar is trading at 86.45 US cents.

DUE:Some analysts are saying (Buy, Medium Risk)

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

Did you know?

The Five Most Common Trading Mistakes Made by Almost All New Day Traders

Failure to Preserve their Trading Capital : Trading Capital is the most essential element in the trading business. Without it one cannot trade to make the profits one wishes for. Hence, it is very critical for the day trader to preserve their trading capital. Trading Capital Preservation will ensure a trader of his or her survival in the long run. The best way a trader can do this is by taking small losses and moving on to the next trade rather than try to make up for losses in one trade.