Thanks Endless.
Half-time round-up:
The Australian share market hit a three-and-a-half week low this morning as the dollar sank towards parity, Asian stocks, oil and gold retreated and US futures flashed red.
At lunchtime the ASX 200 was down 43 points or 1% at 4270, a level last seen in mid-April. Resource stocks led the decline, with gold stocks sagging 4%, metals & mining 2%, materials 1.7% and energy stocks 2%. The Small Ords fell 2.1%. The defensive telecoms and consumer staples were the only sectors to advance as political turmoil in Greece fuelled a flight from risk.
"The market as a whole will be in risk-aversion mode due to the problems in Greece," a senior market analyst at Rakuten Securities in Japan told Reuters.
A regional benchmark index fell to a three-month low. The MSCI Asia Pacific Index lost 1% as Japan's Nikkei dropped 1.19%, Shanghai 1.18% and Hong Kong's Hang Seng 0.83%. Dow futures were recently down 35 points or 0.3%.
The dollar touched its weakest level since December this morning as the US dollar extended a rally into a seventh day. The Aussie was buying US$1.007.
Crude oil futures slumped 85 cents this morning to US$96.57 a barrel. Spot gold was $11.70 weaker at US$1,593.40 an ounce.
Another tough day at the office for most investors. Been a scramble since the get-go here. Moderately successful bounce scalps in AGO and OMH (paltry). Also holding POH, AZH and DYE. If you're ahead today, you're doing well. The collapse in market confidence over the last few sessions is astonishing.
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Thanks Endless. Half-time round-up:The Australian share market...
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