Tuesday, 22 March 2011

1 Week later...and what a wild week..

Well it's been a very crazy week with Japan and Libya both sending the ASX a fair bit down, but we seem to have recovered a bit. Today, strong gains from US, European and Asian markets helped lift Aussie shares into positive territory by the slightest of margins today. The ASX 200 index (XJO) rose 0.6 pts to 4643.4 while the broader All Ordinaries index (XAO) rose 0.1 pct or 3.6 pts to 4737.7.

The number of existing homes sold fell by 9.6 pct in February, hitting a 9 year low overnight in the US. This comes after 3 straight months of improvement. The median sale price in February was $156,000, a 5.2 pct drop over the year.

Chinese data released yesterday, showed that commodity imports to the world’s second largest economy and Australia’s largest trading partner, fell in February. Our two largest miners, BHP Billiton (BHP) and the iron ore focused, RIO Tinto (RIO) ended lower. BHP eased by 0.67 pct or 30 cents to $44.20 while RIO dropped 0.56 pct or 45 cents to $80.55.

Our four largest banks finished mixed, with Westpac (WBC) and Commonwealth Bank of Australia (CBA) ending around 0.5 pct higher, National Australia Bank (NAB) pulled back slightly and ANZ Banking Group (ANZ) ended flat.

Australia’s largest airline, Qantas Airways (QAN) fell 0.48 pct or 1 cent to $2.09 after staff threatened to strike in order to prevent the company’s use of cheap labour and the industry’s union seeking a pay increase for QAN employees.

Outdoor clothing retailer, Kathmandu (KMD) and the Bank of Queensland (BOQ) both went ex-dividend today. This means if you bought shares in either one of these companies today, you would not be eligible to receive their next distribution.
Out of Japan  data was released which measures the change in the total value of goods and services purchased by businesses. Results were better than expected, however it is important to keep in mind this reading was for January, which is well before disaster hit the world’s third largest economy.

Out of the UK tonight, consumer inflation figures are scheduled for release at 8.30pm (AEDT). This measures the change in the price of goods and services purchased by consumers in February. 

I've bought some PEN (Peninsula Energy), Uranium miner, at 9.7c and now have a sell order for 0.12c (missed it today because of Uni). Otherwise I think I'm doing prety well, end of day $833 or 6.1% up


  1. Japan seems to be doing much better than expected. But like you said, the backlash can be looming soon...

  2. Got at least a few buds there.. =/
    Hoping for the best for everyone.