Market finishes the month on a positive
May 1st, 2009 by Bryden Elssmann
Closing Data
| current | change | % | |
|---|---|---|---|
| Dow Jones | 8168.12 | -17.61 | -0.2% |
| NASDAQ | 1717.3 | 5.36 | 0.3% |
| S P 500 | 872.81 | -0.83 | -0.1% |
| FTSE 100 | 4243.71 | 54.12 | 1.3% |
| Nikkei 225 | 8828.26 | 334.49 | 3.9% |
| SPI Futures | 3768 | 2 | 0.1% |
| All Ords | 3,745.00 | 82.7 | 2.3% |
| Oil | 50.35 | 0.16 | 0.3% |
| Gold | 891.2 | -9.3 | -1.0% |
| Silver | 12.305 | -0.449 | -3.5% |
| Aluminium | 1430.5 | 11.5 | 0.8% |
| Copper | 4515 | 214.5 | 5.0% |
| Lead | 1355 | 37 | 2.8% |
| Nickel | 11505 | 405 | 3.6% |
| Tin | 12560 | 260 | 2.1% |
| Zinc | 1408 | 46 | 3.4% |
US stocks slipped lower as weakness in oil and bank shares weighed. The index began to slide after Chrysler announced it would file for chapter 11 bankruptcy, a development that boosted shares of rivals General Motors and Ford. The Dow finished a volatile session down 0.2%, or 17.61 points to 8168. The Dow closed up 9 percent for the month, signalling the biggest monthly gain since May 2007. The tone of April’s trading has continued to revolve around first-quarter corporate earnings with investors increasingly optimistic despite enormous write downs.
The Australian market finished the month in a very positive fashion up more than 6%, making the rise over the last 2 months +13.14%. The All Ordinaries finished 83 points higher. The ASX 200 closed 85 points up. The Financials sector rose, led by ANZ (+$0.50), Westpac (+$0.35), and Commonwealth Bank (+$0.60). The Materials sector finished in the black, driven by buying in BHP Billiton (+$1.00) and Rio Tinto (+$3.08). The Industrials sector was buoyed by Transurban (+$0.21) and Leighton Holdings (+$1.56). The Consumer Staples sector saw Wesfarmers (+$0.81) strengthen.
OZ Minerals has been granted a two-month debt extension, clearing the way for it to finalise its $US1.2 billion deal with China Minmetals. The lending facilities were due for repayment on April 30 but the miner received an extension until June 30 to allow it to proceed with its $US1.2 billion ($1.65 billion) asset sale to China Minmetals.
Expect some profit taking in our market today after the big rise yesterday and, after all, it is Friday.
It is a holiday in Brisbane on Monday but, as the ASX is open, your broking team will be at the phones to take your orders and give advice. So, if you are lucky enough to be having a holiday and have the time to chat about your portfolio, give us a call.
Have a great weekend.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
Disclaimer
The material in “Market Fox” (newsletter) is of a general nature only and neither purports nor is intended to be regarded as advice. No consideration has been given or will be given to your investment objectives, financial situation or needs. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk. Not all risks can be or will be explained in the newsletter. Previous results are no indication of future results. Actual results achieved in the market can vary considerably. The Directors and Representatives of Freeman Fox Ltd and their associates may hold securities in the companies presented.
The research made available in this newsletter is for your private use only and it is protected by applicable copyright laws and other applicable intellectual property right laws. You may not reproduce, distribute, disseminate, broadcast, sell, publish, circulate or give for free, any of the materials made available to you in this newsletter without first seeking the prior written consent of Freeman Fox Ltd.
Freeman Fox Ltd is not required to update any of the content made available in this newsletter, including but not limited to any research commentary, forecasts, recommendations or other analysis in this newsletter. Therefore, for the avoidance of any doubt, material made available in this newsletter may not be accurate after the date of publication or the date on which it is displayed in the newsletter.
To the extent permitted by law, Freeman Fox Ltd and their respective directors, officers, employees, contractors and agents disclaim all responsibility to you for any loss, liability, claim, expense (including but not limited to legal costs and resultant defence or settlement costs) or damage whatsoever, whether direct, consequential, special, incidental, punitive or indirect (including but not limited to loss of profits, trading losses and damages that result from delay, loss or inconvenience) arising out of or in connection with the content of the newsletter and/or any omissions from the content whether in contract, tort (including negligence), statute or otherwise and even if Freeman Fox Ltd has been advised of the possibility of such damage or loss.
If you require assistance in relation to your personal investment situation, contact an authorised representative of Freeman Fox Ltd.