ASX200 Stock and CFD Report 4-8-09

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The SFE Futures up 56 points overnight. BHP and RIO both well up in the US in ADR form. BHP up 5.32% and RIO up 8.30%. BHP up 3.97% in the UK and RIO up 4.86%. BHP closed at the equivalent of 3941c, up 134c on last night’ close. Metals up -Copper up 4.91%, Nickel up 4.36%, Zinc up 5.45%, Aluminium up 4.18% Oil price up $2.13 or 2.98% to $71.58. Gold up $2.90 to $956.60. Bonds down – 10 year yield at 3.639% down from 3. 501%. A$ up again to 84.17c versus 83.47c yesterday morning. CRB Commodities index up 3.43%. VIX Volatility Index down 1.39% to 25.56

Commodities sectors well up as the US$ continues to fall. Materials (resources) sector up 3.5%. Steel stocks up 6.5%. Diversified Miners up 8.0%. CRB Commodities index up a whopping 3.4% and up 9% in three days. Oil price up 3%. Energy sector up 2.3%. Financials up 2.7% helped by good results in the UK from HSBC up 4.75% and Barclays up 6.70%. ISM Manufacturing index ahead of expectations and up for the 7th straight month although still below 50 suggesting economic contraction continues. Construction spending ahead of expectations with a surprise rise of 0.3% against consensus for a 0.5% fall. Bonds down, not helped by a switch into equities and new inflation concerns.

The market is up 70. The SFE Futures were up 56 this morning. In economic news, Australian retail sales increased by 2% over the June Q, much better than the 0.5% economists expected. Retail trade fell 1.4% in June. House prices surprised – up 4.2% in the June Q compared to the 2% rise expected.

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