Local shares eased this morning following a poorly-received profit result from ANZ and a pullback in Shanghai.
At 1pm the ASX 200 was down 3 points or 0.1% at 4934. The financial sector was the main drag on the market, down 0.4% after a near-3% fall in shares in ANZ after a deterioration in the bank's margins last quarter. Retailers were the biggest risers, with Billabong up more than 10% at one stage this morning following an improved outlook for the year.
"The market's had a couple of solid days and it seems like we're not able to see that support follow through," Shaw Stockbroking senior dealer Jamie Spiteri told Fairfax.
Asian markets were mixed. Japan's Nikkei was unchanged, Shanghai down 0.5% and Hong Kong's Hang Seng up 0.2%. Dow futures were recently at +4.
Crude oil futures eased 11 cents this morning to $86.39 a barrel. Spot gold was 70 cents weaker at $1,383.30 an ounce. The dollar was buying US $1.0114.
Glad I made a decent quid yesterday because this morning was a yawn. I rely primarily on volatility and this market is increasingly sluggish. Needs a good shake-up. Made a day's wage on CAP and beer money on GBG this morning but it was slow going.
