Quay Mid-Day Market Update

Despite a weak lead from Wall Street and record falls in spot Iron ore the Australian Share Market has had some surprising strength in the morning session. Futures market were very strong this morning despite entering the Easter break and the weakness on overseas markets, however the big banks led the market forward. Market Turnover into lunch was average at $1.402 billion. Given a lack of economic data out of Asia and the last day of trade before next Tuesday I expect a few profits to be taken in the afternoon for the market to finish flat. Across the market, the current yield play strategy was back in play with continued expectations that the RBA will cut rates when we resume normal trading on Tuesday. The big banks led by ANZ (+0.6%) and CBA (+0.71%) making solid gains. While on the RBA an interesting read with the TD Securities/Melbourne Institute.... For the entire wrap please visit (VIEW LINK)


1 topic

Quay Equities is a privately owned investment advisory firm independent of banks and brokers. This enables us to focus solely on our clients’ needs whilst providing conflict-free advice on Australian Shares. The team at Quay specialise in...

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

trending on livewire
Get the best of Livewire by signing up to our popular daily newsletter