Afternoon traders.Half-time round-up: The Australian market was...

Afternoon traders.

Half-time round-up: The Australian market was on track for a third consecutive day of losses at lunchtime as banks and the big miners continued to retreat. The ASX 200 was recently down 32 points or 0.8% at 3845.

Sentiment towards the big banks deteriorated as CBA slashed its dividend to offset rising bad debts. REITs were sold down after Stockland finally fessed up to a long-awaited capital raising.

Asian markets were recovering from early losses, with the Nikkei marginally in the green, and the Hang Seng recently close to break-even. Gold built on overnight gains, adding another $2. US futures were flat.

Been a good morning at HLL's humble trading croft. Profits taken on BBG (nice) and MTS (meagre). Took a few points off IAG's early run (low-risk trade at this level IMO - I'm likely to be back for more tomorrow). Healthy bounce trades in LNC, TSO and CTX.