Thanks Tweets. Half-time round-up:
Regional markets backtracked this morning, sending the XJO to a one-week low and Japan's Nikkei back under 10,000.
At lunchtime the ASX 200 was down 49 points or 1.1% at 4509 as another "retreat to safety" saw defensive sectors trade higher and cyclicals retreat. Gold led the handful of risers, climbing 0.8% this morning. Also ahead were telecoms +0.7% and consumer staples +0.1%.
Japan's Nikkei slumped 1.69% in morning trade to 9,942. Shanghai was down a more moderate 0.16% and Hong Kong's Hang Seng off 0.12%. Dow futures were recently at a mildly bullish +39.
Local superannuation funds are set to post their first double-digit annual returns in three years, according to new figures released this morning. Ratings agency SuperRatings estimates financial year growth will be 11.5 - 12%.
"June has been quite strong in terms of the Australian share market," SuperRatings managing director Jeff Bresnahan told Fairfax websites.
In company news, Melbourne-based broker Sonray Capital collapsed into administration last night, leaving 3,000 clients in limbo. Sonray had operated since 2003 and employed roughly 70 people in Melbourne and the Gold Coast. Ferrier Hodgson has been appointed administrator.
Crude oil futures were 12 cents stronger this morning at $77.57 a barrel. The spot gold price was tracking sideways but recently 50 cents stronger at $1,239.80 an ounce. The Aussie dollar was modestly higher against the major currencies, buying 0.8726 U.S. cents, up 0.2%.
Another busy morning - loving it. Traded PXS three times profitably. Got into DOW too early but averaged down and exited ahead. Caught the modest bounce in ELD. Small intraday speculators recently taken in ILU and IPL - only looking for a few points of recovery. Charts look nasty.
Anyone know what happened to Exit and Young Trader? I miss their wisdom. Come back, fellas.
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Thanks Tweets. Half-time round-up:Regional markets backtracked...
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