Half-time round-up: A jump in retail sales helped Australian...

Half-time round-up:

A jump in retail sales helped Australian shares trim early losses this morning.

At lunchtime the ASX 200 was down 5 points or 0.11% at 4748, with gains in the consumer discretionary sector, +1.4%, property trusts +1%, energy +0.6% and gold +0.7%. Mining, materials and industrials were the main drag on the index.

Retail sales climbed more than expected last month, up 0.9% seasonally adjusted, indicating the prospect of interest rate rises failed to dent consumer appetite. Economists expected a rise of 0.5%.

But there was disappointing news for builders: home approvals fell 0.1%, seasonally adjusted, in August, after a 7.7% increase in July. Analysts had expected building approvals to increase 2.5%. In other economic news, total credit provided to the private sector rose 0.1% last month, following a 0.2% increase in July.

Major Asian markets were mixed. The Nikkei rose by 0.07%, Hong Kong slid 0.11% and Shanghai rose 1.03%. Dow futures were positive at +13. Gold futures broke north, sending the spot price up more than $3 to $995.50. Crude oil also rallied, up 50 nearly cents to $67.10.

A morning of modest gains here. Caught some of the opening run on ORI. Grabbed FGL when it looked overdone under $5.50. Nice scalp on WGP but took profits too soon.

Potential overnight holds: MRU may be breaking up out of a pennant. MOC is taking a third run at the 1.28 resistance level. MEL's financial report has caused some excitement. NWE is into clear air.