March the 2nd, 2007, Monday
All Ords retreats after inflation survey
The All Ords dropped 70.60 points to 5908.20 after a survey revealed that the rate of inflation rose on climbing petrol and transport prices.
Almost all sectors were hit hard with exception to the media sector, which shielded some of the damage on optimism about takeover activity. Fairfax climbed 2c to $5.00, West Australian Newspapers lightened 11c to $15.52.
Among the miners BHP Billiton tumbled 54c to $29.25, rival Rio Tinto dropped $1.61 to $77.20, Zinifex slid 46c to $15.32. Nickel miner LionOre, which received a US$4bn offer from Swiss giant Xstrata, advanced 5c to $20.40 on speculation that BHP may rival the bid.
My trading session:
Did nothing today.. I wanted to short Origin because of falling oil prices and the inflation data which scared everyone but I didn't get a chance to as I was doing exams in college, oh well!
I'm gonna wait and see if the RBA raises rates or not before I make my next move, i'm expecting big volatility in the market till after the rate rise, and then some!
The All Ords dropped 70.60 points to 5908.20 after a survey revealed that the rate of inflation rose on climbing petrol and transport prices.
Almost all sectors were hit hard with exception to the media sector, which shielded some of the damage on optimism about takeover activity. Fairfax climbed 2c to $5.00, West Australian Newspapers lightened 11c to $15.52.
Among the miners BHP Billiton tumbled 54c to $29.25, rival Rio Tinto dropped $1.61 to $77.20, Zinifex slid 46c to $15.32. Nickel miner LionOre, which received a US$4bn offer from Swiss giant Xstrata, advanced 5c to $20.40 on speculation that BHP may rival the bid.
My trading session:
Did nothing today.. I wanted to short Origin because of falling oil prices and the inflation data which scared everyone but I didn't get a chance to as I was doing exams in college, oh well!
I'm gonna wait and see if the RBA raises rates or not before I make my next move, i'm expecting big volatility in the market till after the rate rise, and then some!
posted by visherer at
11:10 PM
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