Thanks Brit and morning crew.
Half-time round-up:
A rebound in US equity futures and cautious gains in much of Asia helped the ASX rally for the first time in four sessions after shaking off a mid-morning wobble.
At 1pm EST the ASX 200 was 26 points or 0.5% ahead at 4951 with the energy sector (+3%) leading the way. Also strong were metals & mining +1.4%, materials +1.2% and health +1.1%.
Sentiment was helped by sharp up-moves in US equity futures after establishment candidate Ted Cruz beat Donald Trump in the Wisconsin presidential primary. Dow futures were recently up 80 points or 0.46%. S&P 500 futures rallied 10.25 points or 0.5%.
Also helping risk appetite was a rise in crude oil after the American Petroleum Institute reported a fall in US inventories last week. West Texas Intermediate crude futures were last up 97 cents or 2.7% this morning at US$36.86 a barrel.
Hong Kong's Hang Seng edged up 0.07% and Japan's Nikkei 0.28%. China's Shanghai Composite eased 0.15%.
Gold futures were up $2 or 0.16% at US$1,23.60 an ounce. The dollar was buying 75.67 US cents.
Energy stocks are getting a lift from hopes of a freeze on production when the big producers meet on April 17. Seems unlikely, given OPEC's recent inability to agree on anything much, but we could get a rally in the lead-up. Trading: been slim pickings for a few weeks in the pools where I like to fish. Volatility and volumes appear to be down. Took a speculator in CKF, which looks 'due' in the absence of news after two days of heavy selling.
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