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IDS World Markets Wed 3rd October 07


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t?s=%5EAORD

 

 

No real direction so far. All Ords -0.1% with sectors mixed. Materials is keeping the lid on things, -1.2% and Energy is next, -0.8%. Financials is up the most, +0.9% followed by Telecomms +0.8%.

 

Miners on the slide: BHP and RIO both -1.7%. Golds are down less, Newcrest -0.1%, Lihir -0.7% and Newmont -0.6%.

 

Oils mixed: Woodside -1%, Santos +0.7% and Caltex +1%.

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w?s=%5EAORD

 

 

Well, it was the ol' sideways trawl today. All Ords closed flat with sectors all over the place. Consumer Staples took the lead, +1.1% followed by Financials, +0.8%. At the other end, Healthcare and Materials shared the bottom rung, -1.3%.

 

In the miners, BHP -1.8%, RIO -2.2%, Newcrest -2%, Lihir -0.7% and Newmont flat.

 

Oils not looking too bad: Woodside -0.5%, Santos +1% and Caltex +1.5%.

 

Over in Asia, Singers +1.3%, Honkers +1.2% and Nikkers +0.9%. India doing a surge, +3.1%.

 

 

On to UK/Europe:

 

t?s=%5EFTSE

 

t?s=^GDAXI

 

t?s=^FCHI

 

http://finance.yahoo.com/intlindices?e=europe

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Australian Sales Gain, Suggesting Rates May Increase

 

Oct. 3 (Bloomberg) -- Australia's retail sales rose twice as much as economists forecast and imports climbed to a record in August, increasing speculation the central bank will raise interest rates from an 11-year high.

 

Retail spending advanced 0.7 percent from July, the third straight increase, the Bureau of Statistics reported in Sydney today, beating the 0.3 percent median estimate in a Bloomberg News survey. Imports surged 5 percent to a record on sales of consumer goods and office equipment.

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Goldman to Invest $1.7 Billion in Japan Property Boom

 

Oct. 3 (Bloomberg) -- Goldman Sachs Group Inc., Wall Street's most profitable securities firm, plans to invest about 200 billion yen ($1.7 billion) this year in Japanese property, betting real estate is short of its peak after a two-year rally.

 

``Capital inflows will likely increase as various funds continue to be attracted to the Japanese property market,'' Toshinobu Kasai, managing director of Goldman's local real estate investments, said in an interview.

 

Japanese commercial land prices rose this year for the first time since the property bubble burst in 1991, crippling the world's second-biggest economy with three recessions in the following 15 years. New York-based Goldman spent 2 trillion yen since 1998 buying Japanese properties including golf courses, spa resorts, jewelry stores and cinemas.

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U.K. Service Industries' Growth Slows to 13-Month Low

 

Oct. 3 (Bloomberg) -- Growth in U.K. service industries from banks to hotels weakened to a 13-month low in September, a sign rising borrowing costs are starting to slow the pace of economic growth.

 

An index based on replies from about 700 service companies showed a reading of 56.7, down from 57.6 in August, the Chartered Institute of Purchasing and Supply and Royal Bank of Scotland Group Plc said today.

 

HBOS Plc, Britain's biggest mortgage lender, yesterday predicted a slowdown in U.K. lending after credit costs jumped and caused a run on deposits at Northern Rock Plc. Economists predict the Bank of England will probably keep its benchmark interest rate at a six-year high tomorrow and then cut it in coming months to protect economic expansion.

 

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U.K. Consumer Confidence Rises to a Four-Month High

 

Oct. 3 (Bloomberg) -- U.K. consumer confidence increased to a four-month high in September after unemployment declined, Nationwide Building Society said.

 

An index of sentiment rose five points to 99, the highest since May, the mortgage lender said today in an e-mailed statement. The results are based on a survey of 1,004 people, conducted for Nationwide by market research company Taylor Nelson Sofres, between Aug. 20 and Sept. 16.

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Still short from yesterday, 14138. Stop just above the gap like all the other monkeys. If we don't get the typical schwing today, I think we go lower into Friday's numbers (i.e. true smart money is dumping, while people who think they are smart won't trade before Friday, which actually makes them dumb money). How's that for logic? You should see me talk my boss into doing my work.

post-2311-1191417091_thumb.jpg

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