Thanks Brit and morning crew. Half-time round-up: A weekend...

Thanks Brit and morning crew.


Half-time round-up:

A weekend pledge by the world's biggest economies to support global growth helped the ASX start the week on the front foot despite a mixed morning on regional markets.

At 1pm EST the ASX 200 was 22 points or 0.4% ahead at 4902 as gains in health+1%, industrials +1%, financials +0.7% and materials +0.7% outweighed falls in gold -2.1% and property trusts -0.2%. The market reclaimed the 4900 level after the G-20 restated its commitment to "use all available policy levers to drive growth".

“The G-20 is saying all the right things, so the comments may be seen as soothing by financial markets,” Shane Oliver, head of investment strategy at AMP Capital Investors, told Bloomberg. “But I am not convinced that it means a lot more coordinated policy stimulus is about to follow.”

China's Shanghai Composite dived 3.62% this morning and Hong Kong's Hang Seng shed 0.89%. Japan's Nikkei pared its gain to 0.4%. Dow futures were recently 33 points or 0.2% weaker.

Crude oil futures edged up six cents or 0.2% this morning to US$32.83 a barrel. Spot gold was $4 stronger at US$1,225.80 an ounce. The dollar was buying 71.21 US cents.


Nasty fall in Shanghai dragging US futures lower. Could be a problem for us this arvo. Trading: SGH was a clear buy this morning on the basis that the bad news was all out for now, so some of the shorts would cover. Nice start to the week. Also got a few points out of IAG, which fell more than the dividend demanded.