Presented by Michael Hevern
MDS Financial
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In this morning’s wrap…
DOW: down 1.2%
Obama: Wants More Bailout ($US750bn);
Seeks $1tr Tax Increase (on 2.6m Higher Earners)
NASDAQ: down 1.7%
Microsoft down 2.4% & Cisco down 1.2%;
FTSE: up 1.7%
Bank Nationalisation (RBS $53bn loss Govt owns 80%); Banks up 8.5%; DAX & CAC up 2%
NIKKEI: Flat – Below 7900
Jan. Exports down 46%; Trade Deficit Worst on 20yrs Yen Weakens (3mo Lows);
Oil: up 4% – Above $40 ($44)
US Inventories Down;
Trading the Range
Gold: down 2% ($946)
Profit Taking
USD down
SPI: Critical Levels 3420 + 3220
SPI down 21;
Bouncing off November Lows
ASX News
- LLC 1H09 loss $596m (cf $250m profit) cuts 1700 jobs
- QBE profits Steady helped by $409m FX gains
- TTS Profit up 9%; Rev up 5%; F/cast slow 2H09
- ANZ cuts divy by 25% – to bolster balance sheet
- TLS Sol to leave with $3m payout ($33m total)
- OZL D-day – debt refinance
- Report -1H: WOW, CWN, PPX, DOW, HVN
- Report -FY: QBE, OZL TIM
- ASX to open weaker US still testing 12 year lows
Tags: ASX, ASX News, Commodity prices, Dow, FTSE, gold price, Hang Seng, investors, Nasdaq, Nikkei, oil price, shareholders, spi
