Quay Mid-Day Market Update

The Australian Share Market giving back its gains from yesterday, with little lead from Wall Street and a quiet day of economic data, we saw profits taken across the board with the market lacking a driver to move the market forward this morning. Market Turnover was quite strong at $2.167 billion, however this is likely to die down into the afternoon with no economic data due for release in the Asia Pacific region. Across the market, the resource sector seeing some weakness, BHP (-1.97%), Fortescue (-6.37%) and Rio Tinto (-1.98%) trading lower with the spot price down, while the big miners also traded weaker on overseas exchanges. The financials were a mixed bag, NAB (+0.14%) positive ahead of the stock going ex-dividend tomorrow. We could see some interest this afternoon, I still feel they offer the best value amongst the banks.... For the entire wrap please visit (VIEW LINK)


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