Thanks Tweets. Half-time round-up:
Australians shares were little changed at lunchtime as BHP's takeover rebuff and fresh proof of a slowing economy weighed on local trade.
At 1 pm the ASX 200 was down 1 point or 0.03% at 4475 after swinging in and out of positive territory. BHP was the biggest drag on the market, falling more than 3.5% after its US$39 billion offer for Potash Corporation of Saskatchewan was rejected overnight. Most sectors were trading positive but mining, materials, gold, health and consumer discretionary bucked the trend.
Economic growth slowed for a third straight month in June, according to WBC/MI leading index of economic activity figures released this morning. The annualised growth rate eased from 7.4% in May to 6%. Westpac chief economist Bill Evans said the rate was still well above the average rate of around 3%.
Interest rate rises and home price increases have pushed housing affordability close to record lows, according to a new survey released this morning. The HIA-CBA Housing Affordability Index plunged 9.1% in the June quarter and is now 32% lower than last year.
Most Asian markets followed Europe and the U.S. higher. Japan's Nikkei rallied 0.41% and Hong Kong's Hang Seng 0.05% but Shanghai was off 0.21%. Dow futures were recently at -1.
Crude oil futures added another 10 cents this morning to reach $75.62 a barrel. The spot gold price was 80 cents stronger at $1,225.70 an ounce. The Aussie dollar was buying 90.34 U.S. cents.
A wild morning, with some big swings on offer. I rode PGA from the mid-9s and PRY from the low 3s but twice missed good buying opportunities in a certain mining company that plunged this morning. Took a small hit in MAP - misread the tone today. RHC has been safe buying under 14.20 for two weeks - I'm in but uneasy. I mentioned MCC yesterday - currently playing out as hoped.
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daytrades august 18 afternoon
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