DT March 31 afternoon

Thanks Oscar and morning crew. Thanks also Mike B for your service in the pre-market slot while Jim buffed up.


Half-time round-up:

Shares hovered near break-even at the halfway mark of the last session of the quarter as upbeat Chinese manufacturing data helped offset modest profit-taking.

At 1pm EST the ASX 200 was two points or less than 0.1% ahead at 5898, within reach of a fourth straight rise and a triple-digit weekly gain. The index started the week at 5753 and rallied sharply once long-term resistance around 5800 was overcome on Tuesday. A close around these levels would deliver a gain for the quarter of roughly 230 points.

"It has been a good quarter with the ASX 200 gaining 4.1%, which on a relative basis is one of the best performers in developed markets if we price other markets in AUD terms and compare apples and apples" IG strategist Chris Weston told Fairfax.

The market overcame early losses on news of modest improvements in Chinese manufacturing and services activity. The official manufacturing PMI edged up to 51.8 this month, the strongest pace in five years, from 51.6 in February. The services measure rose to 55.1 from 54.2. The Shanghai Composite put on 0.27%, Hong Kong's Hang Seng shed 0.23% and Japan's Nikkei added 0.46%. Dow futures were recently unchanged.

Crude oil futures gave back 12 cents or 0.24% this morning to US$50.23 a barrel. Gold futures slid $4.80 or 0.38% to US$1,243.20 an ounce. The dollar was buying 76.55 US cents.


No surprise to see minor weakness on the last day of the quarter after the run we've had this week. Arguably bullish that we're not down a bit. Trading: KFE has offered a few pullback traders lately - got another today. Was too early into RNU and did not make enough of the opportunity. Also took MTC.