Thanks Endless. Merry Christmas and enjoy your break.
Half-time round-up:
The share market advanced for a third day as US futures were boosted by an upgraded outlook for the US economy from the International Monetary Fund.
At lunchtime the ASX 200 was trading five points or 0.1% higher at 5270 on the last full day of trading before Christmas. At this morning's peak the index had rebounded nearly 200 points over three sessions since the US Federal Reserve launched its long-awaited taper.
The big banks once again did the heavy lifting, driving the financial sector 0.6% higher. Also strong were the Small Ordinaries +0.7%, health +0.6%, energy +0.5% and consumer discretionary +0.5%.
US futures hinted at a strong open tonight after IMF Managing Director Christine Lagarde said the organisation expected stronger growth next year. Read more here. Dow futures were recently up 52 points or 0.3%.
China's Shanghai Composite dropped 0.47% amid concerns over rising lending rates. Hong Kong's Hang Seng rallied 0.37%. Japan's Nikkei was closed for a public holiday.
Crude oil futures rallied 16 cents to US$99.26 a barrel. Spot gold was $1.80 weaker at US$1,201.70 an ounce. The dollar was buying 89.24 US cents.
Good to see DML and KNL proving there is life in the old year yet. I've been stalking DML all morning but about as effectively as a three-week old lion hunting a water buffalo. The trade just wouldn't set up for me. Took a first small speculator in SUD on pullback and will add more if it comes back further. Had a few more air shots. Pretty much on cruise control at this time of the year.
