Quay Mid-Day Market Update

The Australian Share Market is looking at closing the week deep in the red as a flat Wall Street lead has combined with negative momentum from yesterday which was brought about by the outperforming local jobs numbers which has lessened the chance of a possible RBA interest rate cut in May. Also adding to the negative tone was continued talk in Europe of Greek’s debt and possible default. Market Turnover into lunch was again low at $1.499 billion. This afternoon the market should drift a little sideways. A little quiet with no economic data due out around the region giving very little incentive for investors to make a move before the weekend. Across the market, it was no surprise to see the index down when all major sectors were down across the board. After a couple of consecutive days of gains, the big miners failed to maintain their momentum... For the entire wrap please visit (VIEW LINK)

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