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Market Wrap - 6 February 2015

Posted by BBY on 6 February 2015

Market Wrap

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Market Wrap - 5 February 2015

Posted by BBY on 5 February 2015

 

After 10 consecutive days of gains, the Australian share market opened flat today following a weaker lead from Wall St and a reversal in oil prices, which weighed heavily on mining and energy sectors. World oil prices fell on Wednesday after four sessions of gains as investor shifted their focus on the ongoing lift in oil supply after the release of weekly inventory data. However, by lunch the share market was back in the black once again led by a rally in CBA. In the end, the benchmark ASX200 index closed up 0.58% at 5811 making it eleven straight positive sessions. The Australian dollar was trading at US77.69c at 4:00pm(AEDT) rebounding from this morning’s lows of US77.37c.
In local economic news today, The Australian Bureau of Statistics released retail trade figures for December, while the Housing Industry Association new home sales figures for December were also out. 
Australian retail sales rose in December from the month prior, helped by growing speculation in January that the Reserve Bank board were going to cut rates in their next meeting. Retail sales rose by 0.2% in December from November, but missed the 0.3% gain predicted by economists as shoppers hold back on Christmas. Retail sales volumes rose by 1.5% in the fourth quarter from the previous quarter. 
 
The Housing Industry Association’s monthly report showed the number of sales increased by 14.4%. Today’s figures together with low interest rates and home construction forward indicators suggest that Australia’s residential market boom is set to continue in 2015. 
Around the region, we saw Chinese stocks soar in early trade after the Central bank cut banks’ reserve requirement ratio (RRR) for the first time in two years.  The People’s Bank of China cut the reserve ratio by 50 basis points to join a host of other nations in easing monetary policy to overcome an economic slowdown and looming deflation. The Shanghai Composite was up 2.4% while the Hang Send index gained 1.5%, but both have since dropped slightly to be trading at around +1% and +0.5% respectively. 

Market Wrap

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Market Wrap - 4 February 2015

Posted by BBY on 4 February 2015

Market Wrap

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Market Wrap - 3 February 2015

Posted by BBY on 3 February 2015

Market Wrap 

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Market Wrap - 2 February 2015

Posted by BBY on 2 February 2015

Market Wrap

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Market Wrap - 30 January 2015

Posted by BBY on 30 January 2015

Market Wrap

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