Presented by Michael Hevern
MDS Financial
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US Markets
Recover on European $1Tn Bailout Package
SP500: Up 4.4% at 1,159.7
DOW Up 3.9% at 10,75.4
Broad Recovery – Biggest Gains Since Mar 2009
NASDAQ: Up 4.8% at 2,347.6
Dollar Index: Strong, Despite Euro Recovery A$ up 90.24c
FTSE: Up 5.2% at 5,387.4 – Still no Government DAX up 5.3% – ECB $1T Rescue
Oil: up 2.2% at ($77.28)
Recovers but focus still on oil spill in Gulf of Mexico
Gold: down 0.6% at ($1,203)
Commodities Recover.
SPI: at key 4600 ASX set to trade higher
SPI up 58 (1.3%) at 4668
ASX News:
Budget – out tonight – expect lower than forecast deficit.
Will be boosting Super (should help equities).
MCC – Peabody has reduced its takeover offer for MacArthur (MCC).
PDN – Paladin – Uranium One the Canadian operator has increased its stake.
Henry Review means materials stocks will remain in focus, with the government saying tax will not damage the sector, and Miners taking the opportunity to shelve projects (citing the Tax Regime).
ASX – to open higher again
US & UK/Europe – positive leads
U.S. ADRs – Broadly Positive!!!…
BHP up 6.5% & RIO up 8.5%; AWC up 9.6%
ANZ up 8.1% & NAB up 10.5%
NEM up 3.9%, JHX up 4.3%, NWS up 6.4%
Commodities Stock Index up 4.2%
Gold Stocks Index up 2.1%
Oil Stocks Index up 3.5%
Tags: ASX News, BHP, Dow, MacArthur Coal, NAB, Nasdaq, US markets
