daytrading oct 14 afternoon

Good afternoon traders,

Market News

DOW futures: 11365 -27 -0.24%
Gold futures: 1666 -1.9 0.11%
Hang Seng: 18,566 -192 -1.03%
Shanghai: 2,545 -10 -0.34%
AUD/USD: 1.02

from AAP:
Aust shares lower at noon:

Australian shares fell lower at noon following negative leads from US and European markets overnight.

The local bourse opened about half a per cent down on Friday.

By 1215 AEDT both major local indices had pulled down further, with the benchmark S&P/ASX200 index shed 40.4 points, or 0.95 per cent, at 4,204.1 and the broader All Ordinaries index lost 40.9 points, or 0.95 per cent, to 4,265.1.

Commsec market analyst Steven Daghlian said the market had followed weak leads from European and US share markets overnight.

He said that JP Morgan's earnings, which were released before Wall Street opened, had helped cause financials in almost every major economy to fall heavily.

In local trade, the financial sector saw more moderate falls, down 0.7 per cent, with Westpac the worst performing major retail bank, down 16 cents, or 0.74 per cent, at $21.59.

Losses were broad-based across all sectors after copper, oil and gold prices all fell in offshore trade on Thursday.

The materials sector led the downward trend, falling 1.95 per cent.

The spot price of gold in Sydney was $US1,664.75 per fine ounce, down $US6.55 an ounce from Thursday's close at $US1,671.30.

Energy stocks were also hit hard, trading 1.45 per cent lower after world oil prices fell Thursday as traders fretted about slowing demand in China after its trade surplus narrowed for a second straight month.

The weakest stock of the top 100 companies on the ASX was Aquarius Platinum, which lost 5.75 per cent, or 18 cents, to $2.95.

The best performing stock on the same index was Cochlear, which gained 4.9 per cent, or $2.50, to $53.70.

Stocks to watch at noon on Friday:

ANZ - ANZ BANKING GRUOP LTD - down 14 cents, at $20.96

ANZ has appointed Alistair Currie as its new chief operating officer following the departure of David Cartwright.

GNS - GUNNS LTD - up one cent, or five per cent, or five per cent, at 21 cents

A court challenge against timber company Gunns' right to build its controversial Tamar Valley pulp mill will be heard in Launceston.

LEI - LEIGHTON HOLDINGS - down 31 cents, or 1.50 per cent, at $20.33

Leighton Holdings says its Offshore division has been awarded an additional $US79.85 million ($A78.57 million) contract by Iraq's South Oil Company (SOC).

QAN - QANTAS AIRWAYS LTD - down 1.75, or 1.12 per cent, at $1.5475

Qantas says the plight of the beleaguered airline is "getting worse, not better", as engineers prepare to walk off the job on Friday afternoon.

Separately: Prime Minister Julia Gillard says Qantas and the unions should stop talking about negotiating their industrial dispute and "get on and do it", or the government could step in.

Separately: The federal opposition will back the government if it intervenes in the increasingly bitter row between unions and Qantas.

SPT - SPOTLESS GROUP LTD - up 0.5 cents, at $1.985

Cleaners at Melbourne's Qantas domestic terminal are continuing to protest against Spotless's refusal to pay them the same as cleaners working for ISS in the Virgin and international terminals.


HLL will be back next Monday.

Good Luck!

Suzie.