daytrading nov 27 afternoon

Thanks Endless.

Half-time round-up:

Australian shares touched a two-week high this morning as news of a Greek debt deal fuelled a "risk on" session across world markets.

At lunchtime the ASX 200 was 30 points or 0.7% stronger at 4455 as US futures, the Australian dollar, oil, gold and most Asian equities rallied in response to a successful conclusion to long-running negotiations over the latest tranche of Greek aid. All sectors bar the defensive utilities sector (-0.4%) advanced, led by health stocks +4.1% after sector heavyweight CSL announced a profit upgrade. Other standouts included telecoms +1%, metals & mining +0.9% and financials +0.6%.

"The news of a possible Greek deal just before the open has given us a bit of a boost, particularly in the resources sector," Burrell dealer Jamie Elgar told Bloomberg. "Now people will start focusing on the US fiscal cliff and there could be some nervousness there, particularly if it drags on."

The so-called "troika" of international lenders to Greece this morning announced a deal to reduce Greece's government debt to 124% of GDP by 2020 and under 110% of GDP by 2022. The plan clears the way for Greece to receive its next instalment of bailout cash.

US futures rallied despite caution as US politicians prepare for negotiations to water down the "fiscal cliff" package of tax increases and spending cuts. Dow futures were recently up 20 points or 0.15%.

Most Asian markets advanced. Shanghai dropped 0.59% but Hong Kong's Hang Seng added 0.27% and Japan's Nikkei put on 0.42%.

Crude oil futures rallied 14 cents this morning to US$87.96 a barrel. Spot gold was $1.10 stronger at US$1,749.70 an ounce. The dollar rallied less than a third of a cent to $US1.048.


A weary hooray for Europe. They've muddled through until the next time. That leaves the anti-big government redneck Republicans and goddamn lily-livered tax-raising liberals of the US Congress as the main obstacles blocking the traditional Santa rally. That one should run and run. Not enough runs on the board for me this morning. Caught lousy part-fills in JIN and RRL which would have been nice with decent parcels.