Thanks Endless.
Half-time round-up:
A bumper profit from CBA fuelled a rally in the big banks that propelled the ASX 200 through 5000 this morning for the first time in 22 months.
At lunchtime the benchmark index was 48 points or 1% higher at 5007 as a 2.5% surge in CBA swept the financials sector up 1.9%. A huge morning for domestic profit reports saw the industrials sector rally 0.9% following a 5.5% charge in LEI and materials rise 0.8%.
"That result from CBA was what was needed really to push those banks further on," Jamie Elgar of Burrell Stockbroking told Fairfax. "An in-line result would have caused a bit of profit taking, but they came out and smashed the estimates."
Not all the earnings news was well received, with falls in ANN, GFF, SGN, CRZ, DMP and WOR offset by gains in SGP, LEI, CSL, BLD, CPU and OZL.
Asian markets were mixed. Japan's Nikkei eased 0.3% while South Korea's Kospi was lately up 0.5%. Markets in Shanghai and Hong Kong remained closed for Lunar New Year holidays. Dow futures were recently up seven points or less than 0.1%.
Crude oil futures rallied 15 cents this morning to US$97.60 a barrel. Spot gold was 30 cents stronger at US$1,652.50 an ounce. The dollar was buying $US1.0339.
Pow. What a morning. Big results from CBA and LEI suggest the conclusion of this earnings season could see the index at much higher levels. Days like this make you question your entire trading strategy, but I stuck to my strengths, buying pullbacks in the likes of POS, CBD and SKI. Plenty of sewing but no crops worth harvesting yet.
- Forums
- ASX - Day Trading
- daytrading feb 13 afternoon
daytrading feb 13 afternoon
-
- There are more pages in this discussion • 174 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online