Presented by Michael Hevern
MDS Financial
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In this morning’s wrap:
World Indices
Dow down 1.3% – still above 8000 psychological level
- Bank of America down 15%
S&P 500 down 1.5%
NASDAQ DOWN 2.8%
- Good news from Google; job cuts and poor results from Microsoft
- Blackberry getting free advertising from President Obama
FTSE down 2%
- Public spending for Olympics to reach 461 million pounds
- Disappointing earnings for BT; Barclays down 10%
NIKKEI down 1%
Hang Seng up 0.6%
Commodities
Oil down 0.8% – still above $40 mark ($43)
Gold up 0.3% ($858)
Silver up 1%
Local Index
SPI down 24 points overnight
- traders and investors not expected to hold over the long weekend
ASX News
Wesfarmers rights issue
Telstra resignation
OZ Minerals
Newcrest dropping productions
ADRs
BHP down 3.7%
Rio down 2%
ANZ down 6%
NAB down 1.7%
Alumina down 1.7%
Gold stocks index down 1%
Oil stocks index down 2.3%
