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IDS World Markets Fri 30th October 09


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w?s=^AORD

 

 

Off the highs but still a reasonable gain for the day. All Ords closed +1.6% with some sectors favoured far more than others. REITS remained in the lead, +3.7%, IT +2.2% and Miners/Materials +1.8%. Healthcare finished -1% with Consumer Staples, Telecomms and Utilities all +0.1%.

 

All bullish in Asia: China +1.9%, Honkers +3%, India +1.3% and Nikkers +1.3%.

 

 

On to UK/Europe:

 

Footsie

 

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DAX

 

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CAC 40

 

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New Zealand’s Home-Building Approvals Increase 3.3%

 

Oct. 30 (Bloomberg) -- New Zealand’s home-building approvals rose for the fifth time in six months in September, signaling that lower mortgage rates are helping to kick-start demand for property.

 

Permits increased 3.3 percent from August, Statistics New Zealand said in Wellington today, citing seasonally adjusted figures. Excluding apartments, approvals rose 2.8 percent to a 13-month high.

 

Reserve Bank Governor Alan Bollard yesterday said he is unlikely to raise borrowing costs from a record low until the second half of 2010 to help the economy emerge from its worst recession in three decades. There are signs the economy is growing again, he said.

 

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Australian Bank Lending Falls for First Month in Nine

 

Oct. 30 (Bloomberg) -- Australian bank lending unexpectedly fell in September for the first time in nine months amid weaker demand for business credit.

 

The value of loans provided by banks and other finance companies declined 0.2 percent from August, when it rose a revised 0.2 percent, the Reserve Bank of Australia said in Sydney today. The median estimate of 18 economists surveyed by Bloomberg News was for a 0.2 percent gain. Lending advanced 1.7 percent from a year earlier.

 

While business lending has fallen every month this year since January, demand for home loans strengthened, prompting Governor Glenn Stevens to raise the benchmark interest rate this month to 3.25 percent from a 49-year low of 3 percent.

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BOJ Ends Corporate Debt Buying, Extends Loan Program

 

Oct. 30 (Bloomberg) -- The Bank of Japan said it will stop buying corporate debt at the end of the year, as central banks around the world phase out emergency measures taken at the height of the financial crisis.

 

Governor Masaaki Shirakawa and his colleagues also voted to extend a program of providing unlimited collateral-backed loans to banks one last time through March 31, the central bank said in a statement in Tokyo today.

 

The decision was taken as reports showed the jobless rate unexpectedly fell to a four-month low, household spending rose and stocks rallied on optimism Japan’s recovery from its worst postwar recession is taking hold. The bank left its benchmark interest rate at 0.1 percent and pledged to keep borrowing costs at “low levels” as it forecast another year of deflation.

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German Retail Sales Unexpectedly Dropped in September

Oct. 30 (Bloomberg) -- Retail sales in Germany, Europe’s largest economy, unexpectedly fell for a second month in September after companies shortened working hours, leaving consumers with less money to spend.

 

Sales, adjusted for inflation and seasonal swings, slipped 0.5 percent from August, when they dropped 1.8 percent, the Federal Statistics Office in Wiesbaden said today. Economists expected a gain of 1 percent, according to the median of 23 estimates in a Bloomberg News survey. From a year earlier, sales declined 3.9 percent.

 

Average wages in Germany fell 1.2 percent from a year earlier in the second quarter after companies reduced working hours to cut costs during the economic slump. The government is spending 85 billion euros ($126 billion) on measures to haul the country out of its worst recession since World War II.

http://www.bloomberg.com/apps/news?pid=new...id=aymn6VCFkcx4

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Dow hourly just printed long tailed Hammer, as it tries to get thru the 200 hour.

 

If the bottom of that stick get taken out, it is prolly game over fur da bullz now....

 

What the bears do not want to see here is sustained action above the 200 hour...a penetration for a few hours is OK, but if price starts to consolidate above, would be bad sign after bouncing off the hourly 900....

 

 

The plot thickens.....

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