Quay Mid-Day Market Update

The Australian Share Market opening the day with a strong rally which was led by rallies overnight in Crude Oil and Iron Ore. With Wall Street having a flat session it was all about commodities today.Market Turnover on the day was exaggerated due to options expiry. Turnover into lunch was $3.255 billion. The market has run very hard this morning and with a very quiet day of economic releases in the Asia pacific region I expect some profit taking in the afternoon session with the market finishing up around 45 to 50 points. Around the market it was definitely a day to be a commodity related stock with the resource, energy and gold sector outperforming across the board. Resource stocks continuing its momentum from yesterday. BHP (+2.45%), Rio Tinto (+2.24%) and Fortescue (+5.26%) all having strong days. While the sector had better news yesterday, you do get the feeling a lot of today’s trade could be short covering.... 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...


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