Daytrading November 17 afternoon

Thanks Mitta and morning crew.


Half-time round-up:

The share market erased yesterday's losses, rebounding from a six-week low as the RBA left the door open for more rate cuts and regional markets responded to overnight gains in Europe and the US.

At 1pm EST the ASX 200 was trading 61 points or 1.2% ahead at 5064 with all sectors trending higher except gold (-0.1%). The morning's best gains were in telecoms +1.7%, utilities +1.6%, consumer discretionary +1.6% and energy +1.6%. The gains came after US and European share markets shrugged off Friday's terrorist attack on Paris.

“What we have learned is that there is not a meaningful market impact from such attacks,” Anastasia Amoroso, global market strategist at JPMorgan Asset Management in the US, told Bloomberg. “So because we have this unfortunate precedent, that’s why the market is looking past this.”

China's Shanghai Composite rallied 1.17%, Hong Kong's Hang Seng 1.57% and Japan's Nikkei 1.39%. Dow futures were recently one point or less than 0.1% ahead.

The minutes from this month's Reserve Bank policy meeting indicated the bank expects the economy to strengthen slowly in the months ahead despite a slowdown in the nation's Asian trading partners. However, weak inflation offers scope for further easing, if needed. Read more here.

"They judged that the inflation outlook may afford some scope for further easing of monetary policy, should that be appropriate to lend support to demand," the minutes said. "The Board would continue to assess the outlook, and whether the current stance of policy would most effectively foster sustainable growth and inflation consistent with the target."

Crude oil futures edged up six cents this morning to US$41.80 a barrel. Spot gold was 30 cents firmer at US$1,083.90 an 0unce. The dollar was buying 70.98 US cents.


Trading: low-key morning here compared to the last few sessions. Scratched out wins in CAJ and VPC. More recently had another dab at IVO - ex-directors must be running low on ammo. Missed a few other trades.