ASX200 Stock and CFD Report 23-6-09

View Full Report

The SFE Futures suggest an 89 point fall in the market this morning. BHP and RIO both down in ADR form overnight, down 5.26% and 8.93%. BHP closed at the equivalent of 3377c, down 148c on last night’s close. Metals hit hard – Copper down 5.4%, Nickel down 4.7%, Zinc down 4.91%, Aluminium down 6.6%. Oil price down 3.6% or $2.51c to $67.09. Gold down $15 to $921. Down 1.6%. Bonds up – 10 year yield at 3.693% down from 3.789%. The rise in bonds helps the US$104bn of bond issuance scheduled for this week. A$ at 78.67c.VIX Volatility Index 11.36% to 31.17.

Bank of America down 10% – two board members resigned. Apple Inc fell on ‘key man risk’ related selling, as talk intensified that its CEO, Steve Jobs, had undergone a liver transplant about two months ago. Gold price at 5 week lows. Russia’s Micex Index is now down 20% since its 2009 peak, making it the first benchmark equity index to enter a bear market since global stocks began rallying in March. Better than expected German business confidence index numbers didn’t stop the DAX falling 3%. European Central Bank Governing Council member Ewald Nowotny commented that the bank was likely to keep interest rates steady for at least the rest of 2009. Financials worst hit - down 6.2%. Diversified Financial services down 7.5%. Sector still up 50% from March lows. Energy sector down 4.6% on the fall in the oil price. Materials (Resources) sector down 5.3% on sharp falls in metal prices. CRB Commodities index fell 2.7% – biggest fall in 2 weeks.Anglo America rejected the Xstrata bid approach as being completely inadequate.

Our market is having a shocker – down 120 on the back of Wall Street losing a couple of hundred points overnight. Nothing has been spared – both Resources and Financials suffering along with everything else.

Related Posts:

1. ASX200 Stock and CFD Report 14-8-09
2. ASX200 Stock and CFD Report 10-7-09
3. ASX200 Stock and CFD Report 7-7-09
4. ASX200 Stock and CFD Report 28-08-09
5. ASX200 Stock and CFD Report 4-8-09
6. ASX200 Stock and CFD Report 12-8-09
7. ASX200 Stock and CFD Report 3-8-09