re: inventory live warrants now 166k tonnes only
yep sorry I forgot the little k last time I wrote...but check this out....ZFX rose due to MSCI now confirmed...
AUSTRALIAN stocks sank in their biggest monthly fall in more than three years, with big miners BHP Billiton and Rio Tinto Group savaged by a slide in London metal prices.
Stocks that rely on overseas sales, including Westfield Group, declined also after US consumer confidence fell in May and Wal-Mart Stores struggled to meet its sales forecast.
The S&P/ASX 200 Index dropped 103.7, or 2 per cent, to 5001.7 by the closing bell, the biggest one-day slide since October 6. The index dropped 4.9 per cent in May, the worst monthly performance since February 2003.
"I've been spooked by this market all month," said Matthew Kidman, who helps manage $385 million at Wilson Asset Management. "We're definitely not in a comfortable place, especially with the mining stocks taking the brunt of it. Share valuations don't leave much room for risk and I'm concerned that we might be seeing the beginning of a change in sentiment that could last for the rest of the year."
The All Ordinaries shed 1.9 per cent, closing down 94.5 points at 4972.3.
Virtually no sector of the market escaped unscathed, with energy, materials, health care, banking and finance all down over the day.
"The big surprise was that everything fell so much overnight," said David Halliday, client adviser at Macquarie Equities. "There just seems to be so much volatility that people don't know which way to jump at the moment."
BHP Billiton and Rio Tinto both fell 3.8 per cent after copper prices dropped 3.5 per cent overnight.
"The sell-off in the States (overnight) is worrying me," said Michael Caldis, options trader at ABN Amro Morgans. "It seems to be down on no significant news."
Zinifex rose 3.6 per cent as index funds bought the stock after its inclusion in the Morgan Stanley Capital International (MSCI) World Standard Index Series for Australia. The MSCI inclusions dramatically boosted market volume to a record $10 billion.
Other new MSCI inclusions are ABC Learning, WorelyParsons, Paladin Resources and Goodman Fielder. ABC rose 1.1 per cent, Paladin rose 7.1 per cent and Goodman Fielder fell 1.9 per cent. All stocks in the top 20 lost ground and among those, National Australia Bank fell 3.1 per cent and AMP fell 2.8 per cent.
ABN Amro Morgans senior equity adviser Tony Russell said
the market would see some pullback "but in no way are we going into any bearish state".
ZFX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
