Thanks Gttrain. Half-time round-up:The share market shook off...

Thanks Gttrain.

Half-time round-up:

The share market shook off early losses to advance for the first time in four sessions during a mixed morning of economic data.

At lunchtime the ASX 200 was trading 21 points or 0.4% ahead at 5405 after falling as low as 5369 in the first 15 minutes of trade. A morning of steady improvement saw telecoms rise 0.6%, financials 0.5%, health 0.5% and metals & mining 0.4%. The rebound came as investors awaited the next move in the political chess match developing on the Crimean peninsula.

"The latest situation could look like a new Cold War. Lack of clear, strong leadership in the world could lead to a more fragmented world, destabilising the global economy. More funds will flow to safe assets for the time being," Daisuke Uno, chief strategist at Sumitomo Mitsui Bank, told Reuters.

A recovery in building approvals helped offset a weak consumer confidence reading and mildly disappointing current account figures. Total approvals jumped 6.8% in January following a three-month decline. Economists had anticipated an increase of 0.5%.

The current account deficit came in just above expectations at a seasonally-adjusted $10.1 billion last quarter, versus the $10 billion predicted by economists. Consumer confidence dropped for a third week to an 18-month low, according to an ANZ-Roy Morgan survey.

Asian markets were mixed. China's Shanghai Composite slipped 0.49%, Hong Kong's Hang Seng gained 0.38% and Japan's Nikkei added 0.35%. Dow futures were recently up 25 points or 0.15%.

Crude oil futures rallied 21 cents this morning to US$104.86 a barrel. Spot gold was $1.60 weaker at US$1,350.10 an ounce. The dollar was buying 89.4 US cents.


Bit of 'wait and see' happening on most markets this morning. The trading environment is going to be highly soundbite-driven for a few weeks. Going to make it more of a lottery to hold much overnight. I was hoping for decent intraday volatility, but it looks like most of that was yesterday. Got back into the swing with an in-out in TPI, a share that doesn't move far but is fairly predictable in its range and movement. Used the pullback in MML as a chance to get some belated gold exposure.