Gold mid caps have also done their best to help share the love. .

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skara

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18/05/16

13:19

Post #: 17801344
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Originally posted by highlandlad ↑

Thanks Brit and morning crew.

Half-time round-up:

Shares retreated before paring losses as weak domestic wages growth underlined the case for further rate cuts.

At 1pm EST the ASX 200 was off nine points or 0.2% at 5387 but on the improve after hitting a session low at 5347 after the threat of impending rate hikes drove Wall Street lower overnight.

A rebound from the morning low accelerated after data showed salaries grew last quarter at the slowest pace in 18 years. The seasonally-adjusted increase of 0.4% in the wage price index over the first three months of the year gave a year-on-year rate of 2.1%, the weakest rate since 1998.

"Australian wages growth suggests more downside risk to inflation," Tweeted AMP's Shane Oliver. "Reinforces RBA's decision to cut, points to more rate cuts ahead."

The metals & mining sector was best of the sectors, advancing 1.2%. Also bucking the trend were energy +1.1%, gold +0.4% and health +0.4%. The IT sector sagged 1.6%, consumer discretionary 1.1% and industrials 0.7%.

China's Shanghai Composite declined 1.49% and Hong Kong's Hang Seng 1.32%. Japan's Nikkei put on 0.61%. Dow futures were recently 16 points or 0.1% stronger.

Crude oil futures rallied another 13 cents or 0.3% this morning to US$48.44 a barrel. Gold futures were 20 cents or 0.02% firmer at US$1,277.10 an ounce. The dollar was buying 72.97 US cents.

XJO continues to outperform Wall Street, helped by the opposing rate trajectory in each country. Remarkable that things have been this good at the speculative end of the market this long. The twin lithium/IT app trends have made this one of the most lucrative trading periods I can recall. Trading: CCV looked promising under 40c and has slowly delivered. TPP also gave a trade, though I had to settle for a part-fill.

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First 25 Last

Gold mid caps have also done their best to help share the love. .

Winsome scoping study proposes low-cost operation for Adina lithium project

Petratherm adds $1.6 to the piggybank ahead of SA titanium drilling program

Siren Gold boosts antimony resource by 66% to 14.5Kt at Auld Creek, NZ

Western Mines identifies 2 high-grade zones at Mulga Tank in WA

Altair Minerals hits high-grade copper and gold at Wee MacGregor, QLD

Featured News

Featured News

Gold mid caps have also done their best to help share the love. .

Top Stories

Winsome scoping study proposes low-cost operation for Adina lithium project

Petratherm adds $1.6 to the piggybank ahead of SA titanium drilling program

Siren Gold boosts antimony resource by 66% to 14.5Kt at Auld Creek, NZ

Western Mines identifies 2 high-grade zones at Mulga Tank in WA

Altair Minerals hits high-grade copper and gold at Wee MacGregor, QLD

Featured News

Featured News