daytrading april 16 afternoon

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    Thanks Endless.

    Half-time round-up:

    Australian shares retreated for the first session in three but fared better than most regional counterparts following sharp losses in Europe and the US last week.

    At lunchtime the ASX 200 was off 23 points or 0.5% at 4300 with all but two sectors trading in the red. Property trusts (+0.3%) and telecoms (+0.1%) were the picks as defensive sectors were favoured over cyclicals. Gold stocks (-1.9%), metals & mining (-1.1%) and small caps (-0.8%) were hit hardest.

    "Market focus is firmly back on [Europe]," strategists at Barclays Capital told MarketWatch. "Peripheral [government bond] spreads widened significantly on Friday... The market may be responding to any perceived lack of support for the periphery."

    The dollar was dragged lower by a general retreat from risk assets. The Aussie was lately buying US$1.0324.

    Asian markets retreated as US futures pointed to a soft start to the week. Japan's Nikkei fell 1.45%, Shanghai 0.5% and Hong Kong's Hang Seng 0.7%. Dow futures were recently down 26 points or 0.2%.

    Crude oil futures skidded another 60 cents this morning to US$102.24 a barrel. Spot gold was $8.40 weaker at US$1,651.40 an ounce.


    Nice fightback by our market this morning, apparently taking its cue from Shanghai. Chinese investors don't seem as concerned about their quarterly GDP report as the rest of the world. Go figure. I couldn't find a lot this morning. Took APA at support and tried a speculator in FMS that has gone nowhere. CSR coming good from early last week - hopeful for more if the US/Europe play nice tonight.
 
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