Day Trading June 9 afternoon

  1. 9,567 Posts.
    Thanks Zero and morning crew.

    Half-time round-up:

    Shares edged higher for a second day after an early wobble as the UK election tilted towards a hung parliament and an uncertain Brexit outlook.

    At 1pm EST the ASX 200 was nine points or 0.2% ahead for the session at 5685 but set to end a gloomy week in the red after heavy falls through the first half of the week. The index started the week at 5788.

    The metals & mining sector led this morning's recovery, rising 1.1% after monthly Chinese inflation data came in broadly in line with expectations. Also strong were materials +0.9%, utilities +0.4% and industrials +0.4%. The energy sector declined 1.3%, telecoms 0.6% and IT 0.6%.

    The market fell as much as 27 points in opening action as exit polls confounded expectations of a comfortable victory for the ruling Conservative Party in the UK election. Early results had the Labour Party narrowly ahead but unlikely to secure enough seats to form government.

    "We could be heading for a period of market uncertainty, which will be compounded by the elephant in the room this time around - the forthcoming Brexit negotiations," Michael Judge, head of corporate dealing at broker OFX, told Reuters.

    China's Shanghai Composite rallied 0.32%, Hong Kong's Hang Seng was flat at -0.01% and Japan's Nikkei gained 0.91%. Dow futures were recently ahead 22 points or 0.1%.

    Crude oil futures eased six cents or 0.13% this morning to US$45.58 a barrel. Gold futures declined $3 or 0.23% to US$1,276.50 an ounce. The dollar was buying 75.35 US cents.

    The UK electorate has developed a taste for sticking it up the pundits and politicians. It's the spirit that gave us Boaty McBoatface. Admirable in many ways - they're sick of being taken for granted. SNP taking a hiding in Scotland - voters likely disheartened at the prospect Nicola Sturgeon will keep holding referendums on independence until she gets the result she wants. Trading: caught NAN near the low and had a dabble in VEC in case the 5m order at 0.8c is a prop.
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.