Online Stockmarket Trading Update

*  US stock markets ended in the red on Friday on the back of disappointing jobs data.
*  European stock markets fell, recording their biggest weekly decline since  last November.
*  Asian stock markets ended lower for the week, except for  Japan.
*  Commodities prices were mixed, Gold prices are trading around $US1,575, while crude-oil closed around $US92.

The Aussie market has held below the 4930 prior short-term pivot level and is looking to open lower today, as stock prices were lower in Europe and in the US markets after jobs data disappointed.

SPI Futures is trading below the key level of 4900 again, ended down -0.1% (down -5 points)  at 4,890. The key levels for the ASX200 index today are 4850 to 4900.

See below for ASX listed companies in the news today.

US Markets

US stock markets ended in the red on Friday on the back of disappointing jobs data.

The three benchmark indexes were all down  around -0.4% for the session, but the Dow Jones and the S&P500 indexes are still near all-time highs and for the month the Dow Jones and the S&P500 are still in the green. Seven of the ten S&P500 sectors were lower with falls led by the Technology and Consumer Staples sectors down over -0.7%, while the energy sector bucked the trend up 0.2% for the session.

Traders reacted to the news on jobs, which followed the disappointing data from the Institute for Supply Management’s index (ISM) of US non- manufacturing businesses, which covers almost 90 percent of the economy covering industries ranging from utilities and retailing to housing, health care and finance, showing a fall to 54.4 in March (down from 56 previously – readings above 50 signal expansion).

US companies begin releasing their first-quarter earnings this week. Analyst estimates compiled by Bloomberg, indicate the expectation that earnings at S&P500 companies decreased 1.8 percent on average in the first three months of the year, however the energy sector corporate earnings have fallen up -6.3 percent as the average oil price fell to $US94 (down from an average of $US103 in 1Q12) and  profits at technology companies are forecast to have declined -4 percent the second worst performing sector.

The monthly Non-Farm Payrolls employment report out on Friday, disappointed as payrolls only grew by 88,000 workers last month (half of the net 195,000 workers forecast), as the the effects of the US sequestration start to bite.

The Dow Jones closed down -0.3% at 14,565,  the S&P 500 index down -0.4% at 1,553, the Nasdaq ended down -0.7% at 3,204 and the smaller cap Russell 2000 was down -0.3%.

European Markets

European stock markets fell again Friday night, recording their biggest weekly decline since  last November, as the European Central Bank (ECB) reminded investors that risks remain to the eurozone’s recovery.

The Europe Stoxx 600 ended down another -2.3% for the week.  ECB officials kept the benchmark interest rate at a record low of 0.75 percent, while the BoE left their benchmark interest rate at a record low of 0.5 percent.  National benchmark indexes fell in all 18 western European markets last week.

Sentiment was dampened by comments from the ECB President Draghi who sees risks to the eurozone economic recovery and warned that monetary policy cannot compensate for lack of government action.  Traders are trying to come to terms with the new paradigm where the conditions of the Cyprus bailout which is setting a precedent for other eurozone lenders in future.

The losses were again led by the commodity related sectors, as metal prices continued their decline, and further selling came in after the US employment data disappointed.

In Germany, the market retreated for a third session, on the back of the ECB comments.  In the UK the FTSE gave back the more of its recent gains, as copper for three-month delivery in London dropped for a sixth day, sliding to an eight-month low, which again weighed on the miners with BHP and Rio Tinto down another -1.4%.

In London the FTSE 100 was down -1.5% at 6,249, in Germany the DAX closed down -2.0% at 7,658, while in France the CAC closed down -1.7% at 3,663, while Spain closed down -0.6%.

Asian Markets

Asian stock markets ended lower for the week, except for Japan, as investors digest the aggressive BoJ stimulus measures.

The MSCI Asia Pacific Index ended down -1.5% for the week, the index is up 3.6% for the year.  Markets in China, Hong Kong were weaker on  news of a new strain of bird flu and concern that China will move to cool its property market.  The South Korean Kospi index fell again and had its biggest fall in four months, as the risk of conflict with North Korea escalated.

In Japan the Nikkei 225 Stock Average closed higher for the session, after the BOJ said it will double the monetary base by the end of 2014 in a bid to reach 2 percent inflation in two years, in its biggest round of quantitative easing.  The BoJ has streamlined its asset purchase programs, temporarily suspended a cap on some bond holdings and dropped a limit on debt maturities and said it will buy 7 trillion yen ($US74 billion) of bonds a month.  The Japanese market has led Asia on the back of speculation the nation will deploy more stimulus and amid signs the improving US economic data, and is up 48% from its November lows.  Japanese exporters and real-estate developers led the advance.

In China the SSE Composite closed was down -0.1% at 2,225, while in Hong Kong the Hang Seng Index down -2.7% at 21,726 and in Japan the Nikkei 225 Index  was up 1.8% at 12,833.

Commodities

The Dollar Index was lower at 82.64 on a higher Euro, while the Australian Dollar last traded lower  at 1.036. Commodities prices traded mixed.

For the session the Benchmark crude NYMEX for March delivery was down -0.6% settled at $US92.70.  Copper prices are looking for key support level as Copper for March delivery was down -0.2% at $US3.344, while March Gold was up 1.5% (or $US23.50) at $US1,575.

ASX News Today

BANKs – The Labor government has announced its superannuation changes, including a tax exemption on superannuation earnings supporting pensions and annuities will be capped at $100,000, and anything above that level taxed at a rate of 15 percent and people with over $2 million in superannuation will be forced to pay tax during the pension phase.

DJS – Australian shoppers are expected to buy fewer clothes from local retailers in 2013 before starting to spend up next year.

DTE – Dart Energy shares have tumbled to record lows as the company cuts costs and slashes jobs in response to government crackdowns on coal seam gas projects.

FXJ – Fairfax Media has won support from key stakeholders with its latest restructure but the market is still waiting for details of how the struggling media group will deliver further cost cuts.

TOL – Toll roads operator Macquarie Atlas Roads does not anticipate making any acquisitions while it considers the future of most of its assets.

Company Reporting

None.

Ex-dividend Today

CTI Logistics
Cic Australia Ltd
Fonterra Share Fund
Gowing Bros Limited
Harvey Norman
Ilh Group Ltd
Laserbond Limited
Nufarm Limited.

Market Summary

ASX – to open lower
US & UK/Europe – lower again

US ADRs – Broadly  lower!!…

ANZ  -1.6%, NAB -1.9%
BHP +0.3%, NEM +0.6%, RIO -0.3%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets have recovered from their biggest sell-off in a month, on the promises from central banks.
*  European stock markets fell again overnight, recording their biggest 2-day slump in over 4-months.
*  Asian stock markets were generally pared early declines yesterday, led by Japan.
*  Commodities prices were lower, Gold prices are trading around $US1,553, while crude-oil closed around $US93.

The Aussie market has held below the 5000 prior short-term pivot level and is looking to open modestly higher today, as stock prices were lower in Europe and recovered from early loses in the US markets.   Fund managers are rebalancing their books for the new quarter this week.

SPI Futures is trading below the key level of 5000 again, ended up 0.3% (up 16 points)  at 4,928. The key levels for the ASX200 index today are 4900 to 4960.

See below for ASX listed companies in the news today.

US Markets

US stock markets have recovered from their biggest sell-off in a month, on the promises from central banks to keep the taps running at full throttle.

The three benchmark indexes rose, all up around 0.4% for the session, as the Dow Jones and the S&P500 indexes closed near all-time highs again.  All ten S&P500 sectors were higher except for Energy down -0.1%,  gains were led by the Materials and Financials up 0.9%, followed by Industrials and Consumer Staples sectors up over 0.5%.

Traders focused on news from the central banks that they are continuing with their stimulus for the foresessable future, which offset the economic news that weekly jobs data disappointed as companies boosted employment by 158,000 workers in March (forecasts called for a 200,000 gain).  The data came ahead of the monthly non-farm payrolls report from the Labor Department due Friday.  The Institute for Supply Management’s index (ISM) of US non- manufacturing businesses, which covers almost 90 percent of the economy covering industries ranging from utilities and retailing to housing, health care and finance, fell to 54.4 in March (down from 56 previously). Readings above 50 signal expansion.

US companies begin releasing their first-quarter earnings next week and the monthly Non-Farm Payrolls employment report is due out on Friday, a Bloomberg survey says consensus is that the report will show employers hired a net 195,000 workers for the month.

The Dow Jones closed up 0.4% at 14,606,  the S&P 500 index up 0.4% at 1,559, the Nasdaq ended up 0.2% at 3,224 and the smaller cap Russell 2000 was up 0.8%.

European Markets

European stock markets fell again overnight, recording their biggest 2-day slump in over 4-months.

The Europe Stoxx 600 ended down another -1.1%.  ECB officials kept the benchmark interest rate at a record low of 0.75 percent, while the BoE left their benchmark interest rate at a record low of 0.5 percent.

Sentiment was dampened by comments fro the ECB President Draghi who said he sees risks to the eurozone economic recovery and warned that monetary policy cannot compensate for lack of government action.  Traders are trying to come to terms with the new paradigm where the conditions of the Cyprus bailout which is setting a precedent for other eurozone lenders in future.

The losses were led by the commodity related sectors down around  -2% as metal prices continued their decline.  Eurozone manufacturing output contracted less than initially estimated in March as the gauge of manufacturing declined to 46.8 last month (down from 47.9 in February).

In Germany, the market gave back early gains, retreating for a second session, on the back of the ECB comments.  In the UK the FTSE gave back the more of its recent gains, as copper for three-month delivery in London dropped for a fifth day, sliding to an eight-month low, which again weighed on the miners with BHP and Rio Tinto down another -1.4%.

In London the FTSE 100 was down -1.1% at 6,420, in Germany the DAX closed down -0.9% at 7,874, while in France the CAC closed down -1.3% at 3,754, while Spain closed up 1.7%.

Asian Markets

Asian stock markets were generally pared early declines yesterday, led by Japan, as investors digest the aggressive BoJ stimulus measures.

The MSCI Asia Pacific Index ended down -0.6%.  Markets in China, Hong Kong and Taiwan are closed today for a holiday.  The South Korean Kospi index fell another -1.2%, the most in four months, as the risk of conflict with North Korea escalated.

In Japan the Nikkei 225 Stock Average closed higher for the session, after plunging in early trading.  Japanese exporters and real-estate developers led the advance. The recovery came after after the central bank (BoJ) said it will double monthly bond purchases in a bid to reach 2 percent inflation in two years. The Japanese market has led Asia on the back of speculation the nation will deploy more stimulus and amid signs the improcing US economic data.  The BoJ has streamlined its asset purchase programs, temporarily suspended a cap on some bond holdings and dropped a limit on debt maturities and said it will buy 7 trillion yen ($US74 billion) of bonds a month.

In China the SSE Composite closed was closed at 2,227, while in Hong Kong the Hang Seng Index closed at 22,367 and in Japan the Nikkei 225 Index  was up 2.0% at 12,634.

Commodities

The Dollar Index was higher at 82.73 on a lower Euro, while the Australian Dollar last traded higher  at 1.043. Commodities prices traded lower.

For the session the Benchmark crude NYMEX for March delivery was down -1.3% settled at $US93.26.  Copper prices are looking for key support level as Copper for March delivery was up 0.5% at $US3.335, while March Gold was down -0.1% (or -$US0.30) at $US1,553.

ASX News Today

BBG – Billabong remains in a trading halt as takeover talks continue for the troubled surfwear retailer.

DJS – David Jones goes Ex-Div today as retail stocks were mixed despite new figures showing sales have risen strongly for a second straight month.

DTE – Dart Energy shares have tumbled to record lows as the company cuts costs and slashes jobs in response to government crackdowns on coal seam gas projects.

FXJ – Fairfax Media has won support from key stakeholders with its latest restructure but the market is still waiting for details of how the struggling media group will deliver further cost cuts.

TOL – Toll roads operator Macquarie Atlas Roads does not anticipate making any acquisitions while it considers the future of most of its assets.

Company Reporting

None.

Ex-dividend Today

David Jones.

Market Summary

ASX – to open higher
US & UK/Europe – US rose, EU lower again

US ADRs – Broadly  higher!!…

ANZ  -0.3%, NAB +0.5%
BHP +0.7%, NEM 1.7%, RIO +0.8%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets ended lower overnight, after traders took profits on disappoint data.
*  European stock markets fell the most in 5-weeks overnight, backing off a 2-week high.
*  Asian stock markets rose for the first time in 3-sessions, but expect weakness today.
*  Commodities prices were weak, Gold prices are trading around $US1,552, while crude-oil closed around $US94.

The Aussie market has held below the 5000 prior short-term pivot level and is looking to open lower today, as profit-takers pushed stock prices were lower in Europe and in the US markets.   On the ASX banks were sold-off as the Housing Industry Association reported new home sales tumbled 5.3 percent in February, snapping a 4-month run of increases, while sales of stand-alone houses also fell -4 percent and the sales of new units and apartments plunged -11 percent.  Fund managers are re-balancing their books for the new quarter this week.

SPI Futures is trading below the key level of 5000 again, ended down -0.7% (down -35 points)  at 4,919. The key levels for the ASX200 index today are 4900 to 4980.

See below for ASX listed companies in the news today.

US Markets

US stock markets ended lower overnight, after traders took profits on disappoint data.

The three benchmark indexes rose, all down around -1.1% for the session, as the Dow Jones and the S&P500 indexes backed off all-time highs from the prior session.  All ten S&P500 sectors ended lower with falls led  by the Financials and Energy down -1.7%, followed by Materials and Consumer Staples down over -0.9%.

In economic news weekly jobs data disappointed as companies boosted employment by 158,000 workers in March (forecasts called for a 200,000 gain).  The data came ahead of the monthly non-farm payrolls report from the Labor Department due Friday, where Bloomerg consensus says they expect employers hired a net 195,000 workers for the month.  The Institute for Supply Management’s index (ISM) of US non- manufacturing businesses, which covers almost 90 percent of the economy covering industries ranging from utilities and retailing to housing, health care and finance, fell to 54.4 in March (down from 56 previously). Readings above 50 signal expansion.

US companies begin releasing their first-quarter earnings next week and the monthly Non-Farm Payrolls employment report is due out on Friday.

The Dow Jones closed down -0.8% at 14,550,  the S&P 500 index down -1.1% at 1,553, the Nasdaq ended down -1.1% at 3,218 and the smaller cap Russell 2000 was down -1.7%.

European Markets

European stock markets fell the most in 5-weeks overnight, backing off a 2-week high.

The Europe Stoxx 600 ended down -0.9%,  after the index  rose 5.8% for the the quarter.  Traders are trying to come to terms with the new paradigm where the conditions of the Cyprus bailout which is setting a precedent for other eurozone lenders in future.  The losses were led by the commodity related sectors down around  -2% as metal prices continued their decline.  Eurozone manufacturing output contracted less than initially estimated in March as the gauge of manufacturing declined to 46.8 last month (down from 47.9 in February).

In Germany, the market retreated from its best gain in a week, on the back of the worse-than-expected  ISM manufacturing data in the US.  In the UK the FTSE gave back the gains of the prior session.

In London the FTSE 100 was down -1.1% at 6,420, in Germany the DAX closed down -0.9% at 7,874, while in France the CAC closed down -1.3% at 3,754, while Spain closed up 1.7%.

Asian Markets

Asian stock markets rose for the first time in 3-sessions, but expect weakness today.  The MSCI Asia Pacific Index ended up 0.5%.  The index has risen for the past five months as Japanese shares surged on speculation the nation will deploy more stimulus and on the back of improving US economic data.

The Chinese markets ended lower for the session again and the Hong Kong market ended down modestly.  The Chinese traders continue to be concerned over tightening by the banks to address the inflation in the property sector.

In Japan the Nikkei 225 Stock Average surged higher  for the session, up the most in 2-months, as traders pushed on ahead in anticipation that the BoJ will announce the outcome of its meeting today and are expected to increase their stimulus measures.

In China the SSE Composite closed was down -0.1% at 2,225, while in Hong Kong the Hang Seng Index ended  down -0.1% at 22,337 and in Japan the Nikkei 225 Index  was up 3.0% at 12,362.

Commodities

The Dollar Index was lower at 82.75 on a higher Euro, while the Australian Dollar last traded higher  at 1.045. Commodities prices traded lower.

For the session the Benchmark crude NYMEX for March delivery was down -2.8% settled at $US94.45.  Copper prices are looking for key support level as Copper for March delivery was down -1.4% at $US3.333, while March Gold was down -1.4% (or -$US22.30) at $US1,552.

ASX News Today

ANZ – ANZ says it’s head of international and institutional banking Alex Thursby has quit his post to take on the top job at the National Bank of Abu Dhabi.

ORG – Origin Energy says it will not redeem $1.6 billion worth of hybrid securities despite ratings agency Standard & Poor’s decision to revise how it assigns equity content to such securities.

QAN – Qantas is targeting China-bound business passengers as it expands its codeshare agreement with China Eastern Airlines.

SDL – Sundance Resources is likely to end its takeover talks with Hanlong Mining and look for another Chinese suitor.

STO – Santos boss David Knox has rejected claims one of its major Queensland coal seam gas projects was not subjected to a rigorous approval process.

WES – Business Council of Australia chief executive Jennifer Westacott has been appointed to the board of diversified conglomerate Wesfarmers.

WPL – Woodside Petroleum’s $40 billion Browse gas project could be delayed by up to a decade if it does not come to a final investment decision by June, says WA official.

Company Reporting

None.

Ex-dividend Date

None.

Market Summary

ASX – to open lower
US & UK/Europe – profit-taking

US ADRs – Broadly  lower!!…

ANZ  -2.5%, NAB -0.8%
BHP -2.5%, NEM -3.4%, RIO -1.5%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets ended higher overnight, on the back of good domestic data.
*  European stock markets were up overnight, as the eurozone “troika” extended the Cyprus bailout terms.
*  Asian stock markets were generally lower yesterday, led by Japan.
*  Commodities prices were mixed, Gold prices are trading around $US1,575, while crude-oil closed around $US97.

The Aussie market has held around the 5000 prior short-term pivot level and is looking to open higher today, as stock prices were higher in Europe and in the US markets.   Fund managers are rebalancing their books for the new quarter this week.

SPI Futures is trading below the key level of 5000 again, ended up 0.4% (down 20 points)  at 4,996. The key levels for the ASX200 index today are 4970 to 5040.

See below for ASX listed companies in the news today.

US Markets

US stock markets ended higher overnight, after steadily rising throughout the day, on the back of good domestic data.

The three benchmark indexes rose, all up around 0.5% for the session, as the Dow Jones and the S&P500 indexes closed at an all-time highs.  All ten S&P500 sectors were mixed with gains led by the Healthcare and Consumer Staples up over 1.1%,  followed by Financials up 0.6%, while the losers were led by Materials -1.0% and Energy down -0.6%.

In economic news the Commerce Department reported US factory orders rose in February, aided by a pickup in demand for motor vehicles and commercial aircraft. Orders bookings rose 3 percent, the biggest in five months, following a revised 1 percent decline in January.

US companies begin releasing their first-quarter earnings next week and the monthly Non-Farm Payrolls employment report is due out on Friday.

The Dow Jones closed up 0.6% at 14,662,  the S&P 500 index up 0.5% at 1,570, the Nasdaq ended up 0.5% at 3,254 and the smaller cap Russell 2000 was up 0.5%.

European Markets

European stock markets were up overnight, climbing to a 2-week high.

The Europe Stoxx 600 ended up 1.3%,  the index  rose 5.8% for the the quarter.  Cypriot leaders have successfully negotiated access to the EUR10 billion bailout deal and Cyprus was granted two extra years, to 2018, to implement measures linked to its bailout.

Traders are trying to terms with the new paradigm where the conditions of the Cyprus bailout which is setting a precedent for other eurozone lenders in future.  Eurozone manufacturing output contracted less than initially estimated in March as the gauge of manufacturing declined to 46.8 last month (down from 47.9 in February).

In Germany, the market rose the most in a week, on the back of the better-than-expected  eurozone manufacturing output.  In the UK the FTSE ended higher up over 1% its biggest advance since early March, as the British Chambers of Commerce forecast the economy may avoid another recession.

In London the FTSE 100 was up 1.2% at 6,490, in Germany the DAX closed up 1.9% at 7,943, while in France the CAC closed up 2.0% at 3,805, while Spain closed up 1.7%.

Asian Markets

Asian stock markets were generally lower yesterday, led by Japan, as investors digest the terms of the Cyprus bailout.

The MSCI Asia Pacific Index ended down -0.2%.  The Chinese markets ended lower for the session and the Hong Kong market rose.  The Chinese were selling on concerns over tightening by the banks to address the real estate inflation.

In Japan the Nikkei 225 Stock Average closed lower for the session, as exporters suffered from a strengthening yen.  The BoJ will meet in the next couple of days and are expected to increase their stimulus measures.

In China the SSE Composite closed was down -0.3% at 2,227, while in Hong Kong the Hang Seng Index ended up 0.3% at 22,367 and in Japan the Nikkei 225 Index  was down -10.1% at 12,003.

Commodities

The Dollar Index was higher at 82.88 on a lower Euro, while the Australian Dollar last traded higher  at 1.045. Commodities prices traded lower.

For the session the Benchmark crude NYMEX for March delivery was up 0.1% settled at $US97.19.  Copper prices are looking for key support level as Copper for March delivery was up 0.1% at $US3.337, while March Gold was down -1.6% (or -$US24.80) at $US1,575.

ASX News Today

BHP – Australian energy players are looking at offshore gas processing to ensure resources such as the Browse and Scarborough fields are exploited in the near future.

KMD – Kathmandu has defied difficult retail conditions to post a hefty rise in first half profit as new stores performed well and online sales grew.

BBG – Billabong is in a trading halt amid speculation two potential suitors will lower their takeover offers for the lonn suffering surfwear retailer.

BTU – Bathurst Resources, the WA-based company that gained tentative approval for its Escarpment coal mine on the West Coast  of NZ’s Denniston Plateau last month, plans to reincorporate as a NZ company.

DTE – Dart Energy shares have tumbled to record lows as the company cuts costs and slashes jobs in response to government crackdowns on coal seam gas projects.

KMD – Kathmandu MD Peter Halkett will take up to three months of extended leave to recuperate from a severe infection.

TOE – Toro Energy will move to finalise funding and design plans for a new uranium mine in WA, after receiving environmental approval for the project.

TSE – Transfield Services the construction giant has won a contract to roll out fibre optic cable in Sydney as part of the $37.4 billion national broadband network (NBN) project.

UGL – UGL is considering whether to split its engineering and property services operations.

WDC – Westfield Group the shopping centre developer will sell a 49.9 percent stake in six shopping malls in Florida to O’Connor Capital Partners for $US700 million.

Company Reporting

None.

Ex-dividend Date

None.

Market Summary

ASX – to open higher
US & UK/Europe – rose

US ADRs – Broadly  higher!!…

ANZ  0.9%, NAB +0.5%
BHP +0.5%, NEM -3.7%, RIO -0.6%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets ended lower for the session, but again steadily rose after early weakness.
*  European stock markets fell to a 3-week low last week, due to a selloff in the banks.
*  Asian stock markets were generally lower last week, led by weakness in Japan and China.
*  Commodities prices were lower, Gold prices are trading around $US1,599, while crude-oil closed around $US96.

The Aussie market has held below the 5000 prior short-term pivot level and is looking to open lower today, as stock prices were lower in Europe and in the US markets.  The Cyprus Banks opened last week in an orderly manner, even though there are severe restrictions on withdrawals in order to prevent a meltdown on the banking system.  On the ASX traders are expected to ease into the week as they return from the Easter holidays and as the new quarter begins.

The RBA is expected to leave interest rate on hold at 3% today.  SPI Futures is trading below the key level of 5000 again, ended down -0.3% (down -30 points)  at 4,974.  The key levels for the ASX200 index today are 4950 to 5030.

See below for ASX listed companies in the news today.

US Markets

US stock markets ended lower, but again steadily rose after early weakness. For the quarter the Dow Jones was up 11.3%.

The three benchmark indexes ended generally lower for the session, but the S&P500 index remains within a few of points of its record high.  All ten S&P500 sectors ended lower with losses led by the Technology down over -1%, followed by Industrials, Materials and Consumer Cyclicals sectors were down over -0.6%.

Stocks saw some profit taking after recent gains, as fund managers ruled off the quarter, as data showed residential real estate prices increased in January by the most since June 2006, according to the S&P/Case-Shiller index and the Commerce Department report reported US durable goods orders climbed more than forecast in February, led by automobiles and a rebound in commercial aircraft.

The Dow Jones closed up 0.1% at 14,572,  the S&P 500 index down -0.4% at 1,562, the Nasdaq ended down -0.9% at 3,239 and the smaller cap Russell 2000 was down -1.3%.

European Markets

European stock markets fell to a 3-week low last week, due to a selloff in the banks, as traders come to terms with the precedent being set for making eurozone depositors pay for problem bank bailouts.  For the quarter in the UK the FTSE 100 was up 8.7% and in Germany up 2.4%.

The Europe Stoxx 600 ended  down -0.1%,  but the index has recorded a a tenth month of gains, its longest winning streak since July 1997.  Traders are trying to come to terms with the new paradigm where the conditions of the Cyprus bailout may set a precedent for other eurozone lenders in future.   The Cyprus banks reopening was orderly, but there were tight restrictions on bank withdrawals in an attempt to prevent a run on the banks.  The Institute of International Finance has reported last week that banks in Portugal, Spain and Italy may come under pressure on the back of the conditions placed on the Cyprus bailout deal.

In Germany, the market ended flat, trading lower after trading in a 2.5% range last week. German stocks have declined over -2% in the past few sessions.  In the UK the FTSE rebounded but has been lower seven of the past ten sessions, recording it longest losing streak in 10 months and continuing to back off its highest level in over five years.

In London the FTSE 100 was  up 0.4% at 6,411, in Germany the DAX closed up 0.1% at 7,795, while in France the CAC closed up 0.5% at 3,731, while Spain closed up 0.3%.

Asian Markets

Asian stock markets were generally lower last week, led by losses in Japan and China, as investors digest the terms of the Cyprus bailout and the continuing good data out of the US.  For the quarter the Japanese Nikkei outperformed up 19.3% and in Hong Kong the market was down -1.6%.

The MSCI Asia Pacific Index ended down -0.4%, paring the regional benchmark index gains for the year to 4.5%.  The Chinese markets continued lower for the session, while the Hong Kong market was also weaker.  The Chinese were selling on concerns over tightening by the banks to address the property inflation.

In Japan the Nikkei 225 Stock Average closed lower for the session, recording a second  weekly drop in the past six weeks but is still trading close to 2008 highs, as investors are still backing the new BoJ central bank governor to announce fresh stimulus. The Nikkei is the best performing developed market benchmark index this year, as the yen weakened and the Japanese the market is up 41% since its November lows.

In China the SSE Composite closed was down -2.3% at 2,234, while in Hong Kong the Hang Seng Index ended down -0.7% at 22,299 and in Japan the Nikkei 225 Index  was down -2.1% at 12,135.

Commodities

The Dollar Index was lower at 82.78 on a higher Euro, while the Australian Dollar last traded higher  at 1.044. Commodities prices traded lower.

For the session the Benchmark crude NYMEX for March delivery was down -0.3% settled at $US96.90.  Copper prices are looking for key support level as Copper for March delivery was flat at $US3.452, while March Gold was up 0.1% (or $US2.10) at $US1,599.

ASX News Today

HIL – Hills the electronics, building materials and lifestyle products supplier expects to be focused mainly on electronics and technology by the 2016 financial year.

LEI – Leighton as sold its majority stake in three telco businesses to a Canadian fund for $620 million

NCM – Newcrest shares plunged after the company cut its production targets by 10 percent due to ongoing challenges at its Lihir mine in PNG.

NUF – Nufarm the agricultural chemicals supplier announced its company’s half-year financial results booking a 53% fall in profits and slashed its outlook for the full year.

QAN – Qantas and Emirates have been given the green light to form a global alliance, albeit with special conditions for flights across the Tasman.

QBE – QBE the global insurer is on track to meet its financial targets this year as it embarks on a major transformation plan.

VAH – Virgin Australia has received approval from the High Court of Singapore for its purchase of Skywest Airlines.

Market Summary

ASX – to open lower
US & UK/Europe – lower

US ADRs – Broadly  lower!!…

ANZ  -0.2%, NAB -0.7%
BHP -0.7%, NEM -1.2%, RIO -1.3%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets ended lower overnight, after steadily rising after early weakness.
*  European stock markets fell to a 3-week low overnight, due to a selloff in the banks.
*  Asian stock markets were generally higher yesterday, led by Japan.
*  Commodities prices were higher, Gold prices are trading around $US1,604, while crude-oil closed around $US96.

The Aussie market has held around the 5000 prior short-term pivot level and is looking to open lower today, as stock prices were lower in Europe and in the US markets.  The Cyprus Banks may open tonight, but there are severe restrictions on withdrawals in order to prevent a meltdown on the banking system.  On the ASX it will be busy this morning with options expiry settlements and end-of-quarter today.

SPI Futures is trading below the key level of 5000 again, ended down -0.3% (down 9 points)  at 4,993. The key levels for the ASX200 index today are 4960 to 5030.

See below for ASX listed companies in the news today.

US Markets

US stock markets ended lower overnight, after steadily rising throughout the day after early weakness, on the back of good domestic data.

The three benchmark indexes ended flat for the session, as the S&P500 index rose to within a couple of points of its record high.  All ten S&P500 sectors ended mixed with gains led by the Healthcare and Energy up over 0.3%,  while losses were led by Financials and Technology sectors down around -0.5%.

Stocks held on to recent gains as fund managers rule off the quarter, as data showed residential real estate prices increased in January by the most since June 2006, according to the S&P/Case-Shiller index and the Commerce Department report reported US durable goods orders climbed more than forecast in February, led by automobiles and a rebound in commercial aircraft.

The Dow Jones closed up 0.2% at 14,526,  the S&P 500 index flat at 1,562, the Nasdaq ended up 0.1% at 3,256 and the smaller cap Russell 2000 was flat.

European Markets

European stock markets fell to a 3-week low overnight, due to a selloff in the banks, after the possible precedent being set for making eurozone depositors pay for problem bank bailouts.

The Europe Stoxx 600 ended down -0.5%,  but the index is heading for a tenth month of gains, its longest winning streak since July 1997.  Traders are trying to come to terms with the new paradigm where the conditions of the Cyprus bailout may set a precedent for other eurozone lenders in future.   The Cyprus banks may open tomorrow, but there will be tight restrictions on bank withdrawals in an attempt to prevent a run on the banks.  The Institute of International Finance has reported today that banks in Portugal, Spain and Italy may come under pressure on the back of the conditions placed on the Cyprus bailout deal.

In Germany, the market saw further selling, trading lower after trading in a 2.4% range in the prior session.  German stocks have declined over -2% in the past few sessions.  In the UK the FTSE ended lower and has been lower seven of the past nine sessions, recording it longest losing streak in 10 months and continuing to back off its highest level in over five years.

In London the FTSE 100 was down -0.2% at 6,387, in Germany the DAX closed down -1.2% at 7,789, while in France the CAC closed down -1.0% at 3,711, while Spain closed down -1.1%.

Asian Markets

Asian stock markets were generally higher yesterday, led by Japan, as investors digest the terms of the Cyprus bailout and the continuing good data out of the US.

The MSCI Asia Pacific Index ended up 0.3%, paring the regional benchmark index gains for the year to 4.8%.  The Chinese markets continued lower for the session, while the Hong Kong market rose.  The Chinese were selling on concerns over tightening by the banks to address the property inflation.

In Japan the Nikkei 225 Stock Average closed higher for the session, having rebounded from its first weekly drop in five weeks and is trading close to 2008 highs, as investors are still backing the new BoJ central bank governor to announce fresh stimulus. The Nikkei is the best performing developed market benchmark index this year, as the yen weakened and the Japanese the market is up 43% since its November lows.

In China the SSE Composite closed was down -1.1% at 2,301, while in Hong Kong the Hang Seng Index ended up 0.7% at 22,464 and in Japan the Nikkei 225 Index  was up 0.2% at 12,493.

Commodities

The Dollar Index was lower at 82.84 on a higher Euro, while the Australian Dollar last traded higher  at 1.044. Commodities prices traded higher.

For the session the Benchmark crude NYMEX for March delivery was up 0.3% settled at $US96.51.  Copper prices are looking for key support level as Copper for March delivery was up 0.3% at $US3.452, while March Gold was up 0.4% (or $US7.60) at $US1,604.

ASX News Today

HIL – Hills the electronics, building materials and lifestyle products supplier expects to be focused mainly on electronics and technology by the 2016 financial year.

NUF – Nufarm the agricultural chemicals supplier is in a trading halt pending an announcement about the company’s half-year financial results and the outlook for the full year.

QAN – Qantas and Emirates have been given the green light to form a global alliance, albeit with special conditions for flights across the Tasman.

QBE – QBE the global insurer is on track to meet its financial targets this year as it embarks on a major transformation plan.

VAH – Virgin Australia has received approval from the High Court of Singapore for its purchase of Skywest Airlines.

Company Reporting

None.

Ex-dividend Date

Supply Network
ARB Corporation
Cedar Woods Property
Funtastic Limited
Scott Corporation
STW Communications.

Market Summary

ASX – to open flat
US & UK/Europe – lower

US ADRs – Broadly  mixed!!…

ANZ  -0.5%, NAB -0.1%
BHP +0.2%, NEM +1.6%, RIO +0.9%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets ended higher overnight, on the back of good domestic data.
*  European stock markets were up overnight, as the eurozone “troika” approved the Cyprus bailout.
*  Asian stock markets were generally lower yesterday, led by Japan.
*  Commodities prices were mixed, Gold prices are trading around $US1,595, while crude-oil closed around $US96.

The Aussie market has held around the 5000 prior short-term pivot level and is looking to open higher today, as stock prices were mixed in Europe and in the US markets.  The Cyprus Bank Deposit Levy remains an issue as the “troika” get tough and depositors with over EUR100,000 in deposits are facing a 40 percent deposit tax.  Remember that its options expiry today and end-of-quarter this week.

SPI Futures is trading below the key level of 5000 again, ended up 0.2% (down 9 points)  at 4,965. The key levels for the ASX200 index today are 4930 to 5000.

See below for ASX listed companies in the news today.

US Markets

US stock markets ended higher overnight, after steadily rising throughout the day, on the back of good domestic data.

The three benchmark indexes rose, all up around 0.8% for the session, as the S&P500 index rose to within four points of its record high.  All ten S&P500 sectors ended in the green with gains led by the Enegry, Healthcare and Consumer Staples up over 1.1% around 1%,  followed by Materials, Financials and Industrials sectors up over 0.5%.

Stocks rose as data showed residential real estate prices increased in January by the most since June 2006, according to the S&P/Case-Shiller index and the Commerce Department report reported US durable goods orders climbed more than forecast in February, led by automobiles and a rebound in commercial aircraft.  However consumer confidence fell more than forecast dropping to 59.7 down from a three-month high of 68)

The Dow Jones closed up 0.8% at 14,559,  the S&P 500 index up 0.8% at 1,562, the Nasdaq ended up 0.5% at 3,252 and the smaller cap Russell 2000 was up 0.4%.

European Markets

European stock markets were up overnight, as good US housing and durable goods oders data offet, the possible precedent being set for making eurozone depositors pay for problem bank bailouts.

The Europe Stoxx 600 ended up 0.2%,  the index is heading for a tenth month of gains, its longest winning streak since July 1997.  Cypriot leaders have successfully negotiated access to the EUR10 billion bailout deal, but depositors with funds in excess of EUR100,000 are looking at a 40% deposit tax, which was placed as a condition to gain access to the EUR10 billion of bailout funds.

Traders are trying to terms with the new paradiagm where the conditions of the Cyprus bailout may set a precedent for other eurozone lenders in future.   The Cyprus Stock Exchange remains closed for trading today and tomorrow as banks are closed, according to a statement on CSE’s website.

In Germany, the market closed modestly higher after 3-days of selling, lower after trading in a 2.4% range, finishing on its lows for the day.  German stocks have declined -1.6% in the past few sessions.

In the UK the FTSE ended higher and has been lower six of the past eight sessions, recording it longest losing streak in 10 months and continuing to back off its highest level in over five years.

In London the FTSE 100 was up 03% at 6,399, in Germany the DAX closed up 0.1% at 7,879, while in France the CAC closed up 0.3% at 3,748, while Spain closed down -1.8%.

Asian Markets

Asian stock markets were generally lower yesterday, led by Japan, as investors digest the terms of the Cyprus bailout.

The MSCI Asia Pacific Index ended flat, after recording its biggest weekly decline since August last week, paring the regional benchmark index gains for the year to 3.2%, and down -3% for the month.

The Chinese markets ended lower for the session and the Hong Kong market rose.  The Chinese were selling on concerns over tightening by the banks to address the real estate inflation.

In Japan the Nikkei 225 Stock Average closed lower for the session, having rebounded from its first weekly drop in five weeks and is trading close to 2008 highs, as investors are still backing the new BoJ central bank governor to announce fresh stimulus. The Nikkei is the best performing developed market benchmark index this year, as the yen weakened and the Japanese the market is up 43% since its November lows.

In China the SSE Composite closed was down -1.3% at 2,297, while in Hong Kong the Hang Seng Index ended up 0.3% at 22,331 and in Japan the Nikkei 225 Index  was down -0.6% at 12,471.

Commodities

The Dollar Index was higher at 82.89 on a lower Euro, while the Australian Dollar last traded higher  at 1.047. Commodities prices traded higher.

For the session the Benchmark crude NYMEX for March delivery was up 1.5% settled at $US96.34.  Copper prices are looking for key support level as Copper for March delivery was down -0.3% at $US3.442, while March Gold was down -0.6% (or -$US8.80) at $US1,595.

ASX News Today

BHP – Australian energy players are looking at offshore gas processing to ensure resources such as the Browse and Scarborough fields are exploited in the near future.

KMD – Kathmandu has defied difficult retail conditions to post a hefty rise in first half profit as new stores performed well and online sales grew.

LEI – Leighton has promoted Bob Humphris to chairman as the construction giant seeks to quickly put the sudden resignations of three directors behind it.

SDL – the Sundance Resources takeover by Hanlong looks to be dead!

TSE – Transfield Services the construction giant has won a contract to roll out fibre optic cable in Sydney as part of the $37.4 billion national broadband network (NBN) project.

UGL – UGL is considering whether to split its engineering and property services operations.

WDC – Westfield Group the shopping centre developer will sell a 49.9 percent stake in six shopping malls in Florida to O’Connor Capital Partners for $US700 million.

Company Reporting

None.

Ex-dividend Date

Supply Network.

Market Summary

ASX – to open higher
US & UK/Europe – rose

US ADRs – Broadly  higher!!…

ANZ  -0.2%, NAB +0.9%
BHP +0.7%, NEM -0.1%, RIO +1.0%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets ended lower for the session, paring back from early gains.
*  European stock markets fell again overnight, as the eurozone “troika” approved the Cyprus bailout.
*  Asian stock markets were generally higher yesterday, led by Japan, but we are set to see weakness today.
*  Commodities prices were lower, Gold prices are trading around $US1,604, while crude-oil closed around $US94.

The Aussie market has held around the 5000 prior short-term pivot level and is looking to open lower today, as stock prices were weaker in Europe and in the US markets.  The Cyprus Bank Deposit Levy remains an issue as the “troika” get tough and depositors with over EUR100,000 in deposits are facing a 40 percent deposit tax.  Remember that its options expiry week and end-of-quarter this week.

SPI Futures is trading below the key level of 5000 again, ended down -0.9% (down -44 points)  at 4,960. The key levels for the ASX200 index today are 49530 to 5000.

See below for ASX listed companies in the news today.

US Markets

US stock markets ended lower for the session, paring back from early gains.

The three benchmark indexes fell, all down around -0.3% for the session, as the S&P500 index rose to within a point of its record high.  All ten S&P500 sectors ended in the red with gains led by the Industrials and Materials sectors were down -0.8%, followed by Financials and Energy sectors down -0.3%.

The Dow Jones closed down -0.4% at 14,447,  the S&P 500 index down -0.3% at 1,551, the Nasdaq ended up 0.7% at 3,245 and the smaller cap Russell 2000 was down -1.1%.

European Markets

European stock markets fell again overnight, as the eurozone “troika” approved the Cyprus bailout but set a precedent for making depositors pay for problem bank bailouts.

The Europe Stoxx 600 ended down -0.3%, pulling back from early gains, as trading volumes were 20 percent greater than the monthly average.  Cypriot leaders have successfully negotiated access to the EUR10 billion bailout deal, but depositors with funds in excess of EUR100,000 are looking at a 40% deposit tax, which was placed as a condition to gain access to the EUR10 billion of bailout funds.  Traders were spooked by a Reuters report citing Dutch Finance Minister who suggested that the conditions of the bailout may set a precedent for other eurozone lenders in future.   Italian banks were the worst hit, down over -6% on the news.

In Germany, the market closed lower after trading in a 2.4% range, finishing on its lows for the day.  German stocks have declined as they retrace from 5-year highs, after a contraction in eurozone manufacturing indicating an ongoing recession in the region.

In the UK the FTSE ended lower, and has been lower six of the past seven sessions, recording it longest losing streak in 10 months and continuing to back off its highest level in over five years.  Stock markets in Greece and Cyprus remained closed.

In London the FTSE 100 was down -0.2% at 6,378, in Germany the DAX closed down -0.5% at 7,870, while in France the CAC closed down -1.1% at 3,727, while Spain closed down -2.3%.

Asian Markets

Asian stock markets were generally higher yesterday, led by Japan, but we are set to see weakness today, as investors digest the terms of the Cyprus bailout.

The MSCI Asia Pacific Index rose 0.9%, rebounding from its biggest weekly decline since August, paring the regional benchmark index gains for the year to 3.2%, and down -3% for the month, as all 10 industry groups climbed.

The Chinese markets ended flat for the session and the Hong Kong market rose, as three stocks rose for every loser, as Chinese manufacturing expanded for the month.

In Japan the Nikkei 225 Stock Average closed higher for the session, rebounding from its first weekly drop in five weeks and is trading close to 2008 highs, as investors are still backing the new BoJ central bank governor to announce fresh stimulus. The Nikkei is the best performing developed market benchmark index this year, as the yen weakened and the Japanese the market is up 44% since its November lows.

In China the SSE Composite closed was flat at 2,328, while in Hong Kong the Hang Seng Index ended up 0.6% at 22,251 and in Japan the Nikkei 225 Index  was up 1.7% at 12,546.

Commodities

The Dollar Index was higher at 82.89 on a lower Euro, while the Australian Dollar last traded higher  at 1.046. Commodities prices traded higher.

For the session the Benchmark crude NYMEX for March delivery was up 1.1% settled at $US94.81.  Copper prices are looking for key support level as Copper for March delivery was down -0.6% at $US3.445, while March Gold was down -0.1% (or -$US1.60) at $US1,604.50.

ASX News Today

BHP – Australian energy players are looking at offshore gas processing to ensure resources such as the Browse and Scarborough fields are exploited in the near future.

DLX – DuluxGroup the paint maker may save twice as much as originally expected from its takeover of building products and garage door supplier Alesco.

FUN – Funtastic is pinning its hopes on a slushy cup as the toy distributor shrugged off tough trading conditions to deliver a 68 percent leap in first half profit.

LEI – Leighton has promoted Bob Humphris to chairman as the construction giant seeks to quickly put the sudden resignations of three directors behind it.

WDC – Westfield Group the shopping centre developer will sell a 49.9 percent stake in six shopping malls in Florida to O’Connor Capital Partners for $US700 million.

WPL – Woodside’s former employee Gary Gray says there is no conflict between his new job as federal resources minister and his old job with oil and gas giant Woodside.

Company Reporting

None.

Ex-dividend Date

OrotonGroup Limited.

Market Summary

ASX – to open lower
US & UK/Europe – pared early gains losses

US ADRs – Broadly  lower!!…

ANZ  -0.4%, NAB -0.4%
BHP -0.9%, NEM -1.3%, RIO -1.6%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.

*  US stock markets ended just lower for a second week.
*  European stock markets ended flat Friday night, as the eurozone “troika” get tough with Cyprus.
*  Asian stock markets were generally lower yesterday, but China continued higher.
*  Commodities prices were higher, Gold prices are trading around $US1,606, while crude-oil closed around $US93.

The Aussie market held below the 5000 prior short-term support level, but is looking to open higher today, as stock prices recovered late in Europe and in the US markets.  The Cyprus Bank Deposit Levy remains an issue as the “troika” get tough and the Cypriot government searches for funding.

SPI Futures is trading below the key level of 5000, ended up 0.5% (down 24 points)  at 4,967. The key levels for the ASX200 index today are 4950 to 5020.

See below for ASX listed companies in the news today.

US Markets

US stock markets just lower for a second week, after uncertainty in Cyprus and a contraction in eurozone manufacturing raised concern about the eurozone debt crisis. but the US pared loses at the end of the week.

The three benchmark indexes fell for the week, all down around -0.3% for the week. All ten S&P500 sectors ended in the green with gains led by the Consumer Staples sector up 0.9%, as Energy, Healthcare and Industrials sectors were up 0.7%.

The Dow Jones closed up 0.6% at 14,512,  the S&P 500 index up 0.7% at 1,556, the Nasdaq ended up 0.7% at 3,245 and the smaller cap Russell 2000 was up 0.3%.

European Markets

European stock markets fell again overnight, as the eurozone “troika” get tough with Cyprus.

The Europe Stoxx 600 ended down -0.2%, down -1.1% for the week, but the benchmark has still risen 5.1 percent this year.  Eurozone finance ministers are expecting a proposal from Cyprus soon (deadline is toady), to raise the EUR5.8 billion needed to trigger the emergency loans.  Cypriot leaders are still in talks, but depositors with funds in excess of EUR100,000 may be looking at a 25% deposit tax, desipte Cypriot lawmakers’ rejection of a tax on bank deposits last week, which was placed as a condition to gain access to the EUR10 billion of bailout funds.

In Germany, the market closed lower after the Munich Ifo institute reported business confidence unexpectedly fell in March from a 10-month high, the first drop in five months.   German stocks declined as they retrace from 5-year highs, after a contraction in eurozone manufacturing indicating an ongoing recession in the region.

Earlier in the week trader sentiment was weighed down by news that the purchasing managers’ index for Germany’s manufacturing industry unexpectedly fell to 48.9 this month, below estimates, while a measure of eurozone services and manufacturing output contracted more than forecast, as a composite index based on a survey of purchasing managers in both industries fell to 46.5 (down from 47.9 in February)

In the UK the FTSE ended flat after being lower for the prior five sessions, recording it longest losing streak in 10 months and continuing to back off its highest level in over five years.

In London the FTSE 100 was up 0.1% at 6,392, in Germany the DAX closed down -0.3% at 7,911, while in France the CAC closed down -0.1% at 3,770, while Spain closed down -0.3%.

Asian Markets

Asian stock markets were generally lower Friday, led by Japan.  The MSCI Asia Pacific Index fell -1.7%, recording its biggest weekly decline since August, paring the regional benchmark index gains for the year to 2.3%, and down -4% for the month.  Resource stocks that do business with Europe fell, with BHP and RIO slumping -6% for the week.

The Chinese markets ended higher again up 2.2% for the week and the Hong Kong market lower, as Chinese manufacturing expanded this month, after the preliminary Purchasing Managers Index from HSBC Holdings Plc and Markit Economics showed factory activity accelerating in China up 51.7 for March.

In Japan the Nikkei 225 Stock Average closed -1.2% for the week, investors are still backing the new BoJ central bank governor to announce fresh stimulus. The Nikkei is the best performing developed market benchmark index this year, as the yen weakened and the Japanese the market is up 42% since its November lows.

In China the SSE Composite closed up 0.2% at 2,328, while in Hong Kong the Hang Seng Index ended down -0.5% at 22,115 and in Japan the Nikkei 225 Index  was down -2.4% at 12,338.

Commodities

The Dollar Index was lower at 82.430 on a higher Euro, while the Australian Dollar last traded higher  at 1.044. Commodities prices traded higher.

For the session the Benchmark crude NYMEX for March delivery was up 1.4% settled at $US93.71.  Copper prices are looking for key support level as Copper for March delivery was up 0.9% at $US3.466, while March Gold was down -0.5% (or -$US7.70) at $US1,606.40.

ASX News Today

AGO – Atlas Iron and BC Iron remain confident that Chinese demand and longer-term prices for the commodity will remain buoyant, despite recent pessimism.

BBG – Billabong shares rose after the troubled surfwear retailer confirmed takeover talks were continuing.

LEI – Leighton said 3 board members at the construction giant have stood down because of a breakdown in relations with its major shareholder.

WHC – Whitehaven Coal is laying off 40 workers as it cuts costs to deal with lower coal prices and the high Australian dollar.

NWS – Media companies have welcomed the collapse of the federal government’s controversial package of reforms to ownership and regulation in the industry.

ORL – Oroton is on the look out for acquisitions to add to its stable of luxury fashion and accessories lines.

PMV – Premier Investments, the retailer behind brands including Just Jeans and Portmans, has lifted its first half profit by 21 percent.

Company Reporting

None.

Ex-dividend Date

Altium Limited
A.P. Eagers Limited
Lycopodium Limited.

Market Summary

ASX – to open higher
US & UK/Europe – pared losses

US ADRs – Broadly  higher!!…

ANZ  2.6%, NAB 2.3%
BHP -0.6%, NEM up 0.4%, RIO -0.3%

By Michael Hevern
D2MX Investment Advisor

For trade ideas and recommendations on how to trade in this market, sign up for a free trial of the D2MX Daily Trading Report, call 1300 610 024 or email advisory@d2mx.com.au.