ASX200 Stock and CFD Report 21-8-09

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The SFE Futures up 13 points overnight. BHP and RIO in ADR form overnight, up 0.88% and down 0.72%. BHP up 1.86% in the UK, RIO up 1.00%. BHP closed at the equivalent of 3739c, up 26c on last night’s close. Metals mixed – Copper up 1.12%, Nickel up 0.31%, Zinc down 0.28%, Aluminium down 2.25%, Lead up 0.34% Oil price up a touch up 15c or 0.21% to $72.57. Natural gas prices down. Gold price down $3.30 to $942 Bonds up – 10 year yield at 3.4353% down from 3.463%. A$ up to 83.15c versus 82.99c yesterday morning. CRB Commodities index up 0.02% VIX Volatility Index down 4.46% to 25.09

Low volumes again. Market up 3% in three days. A recovery in Asian stockmarkets (particularly Chinese up 4.33%) provided some relief. Financials up a solid 2.6% with banks up 3.0% and insurance up 4.3%. Industrials up 1.2%. Sears belted (down 11.88%) on results although retailers still managed a 0.4% rise. Jobless claims numbers worse than expected. Looks like unemployment is going to remain reasonably high even whilst the economy initially stabilises/recovers. Philadelphia Fed index stronger than expected. Expecting business activity to increase in the next six months. The Leading index was up for the fourth straight month but in line with expectations. The Baltic Dry index fell over 3% last night. Not a great leader for resources and not exactly underpinning recent commodity price rises. Notably the iron ore price has also peaked. Bonds got a lift on a slightly smaller than expected bond issuance program that expected being announced for next week. Poor finish to the week – down 64.

The SFE Futures were up 13 this morning. Earnings results dominating the headlines.

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