The Australian Share Market is trading in negative territory with the market losing ground at around 10:30 am after struggling for direction on the open with a...

Quay Equities

The Australian Share Market is trading in negative territory with the market losing ground at around 10:30 am after struggling for direction on the open with a sluggish Wall Street lead with cautiousness ahead of their important non-farm payrolls data out of the U.S tonight while the ECB unveiled there QE plans which will kick off this coming Monday. Market Turnover into lunch was $1.167 billion. Given the lack of economic data out of the region and ahead of the important U.S employment data I think the market will continue to drift lower to close the week in negative territory. Tonight there is expectations for the U.S economy to add 240,000 jobs which is down from 257,000 jobs last month but still a very decent expectation. Across the market the large drop in the spot Iron Ore price add a significant effect on the resource sector. BHP (-2.02%), Rio Tinto (-1.49%) and junior miners Atlas (-8.57%) and Fortescue (-4.37%) feeling the pain today. For the rest of the wrap please visit (VIEW LINK)


Quay Equities
Quay Equities

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...

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