Guest Posted January 27, 2004 Report Share Posted January 27, 2004 After the initial opening burst All Ords is grinding down steadily, currently -0.2%. So much for the Big Bro action. The banks and Newscorp got a haircut from their opening highs with most the banks sinking into the red. Newscorp still up there at +0.9% but losing ground by the minute. Golds down: Lihir -2.1%, Newcrest -1.7% and Newmont -1.4%. Oils up: Woodside +0.3% on low volume and Santos +1.2%. Nikkers up 0.8%, be interesting to see if it can hang onto it. Singers +0.5% and Sth Korea -0.2%. Link to comment Share on other sites More sharing options...
Guest Posted January 27, 2004 Report Share Posted January 27, 2004 Rogue trades cost $360m in losses: NAB National Australia Bank Ltd (NAB) today said pre-tax losses from the rogue currency trades totalled $360 million, double the amount it first indicated. "The total pre-tax loss includes $185 million announced last week and an additional $175 million from revaluation of the trading book. This will result in a post-tax loss of $252 million," Australia's biggest bank said. Link to comment Share on other sites More sharing options...
Guest Posted January 27, 2004 Report Share Posted January 27, 2004 http://www.signalwatch.com/markets/markets-dow.asp Dow weekly chart: teensy poke through resistance, not enough oomph imo, looking for at least a pullback. Link to comment Share on other sites More sharing options...
Guest Posted January 27, 2004 Report Share Posted January 27, 2004 To all intents and purposes today looked fairly bearish with All Ords closing -21.5 (-0.6%) HOWEVER looking at the daily chart, we did a breakout last week and today the index has dropped to a solid support level. I suspect it might go up again from here but then again... Banks took a hit from ANZ -1.7% to NAB -0.5%. Newscorp finished +0.1% after being +1.8% intraday. Golds continued to fall: Lihir -4.1%, Newcrest -3.2% and Newmont -2%. Woodside lost its gains, -0.3% but Santos retained the green, +1.1%. Asia not looking too bright: Nikkers -0.1%, Singers -0.3%, Honkers -0.5%, Sth Korea -0.9%. Taiwan doing a boner, +1.8%. Link to comment Share on other sites More sharing options...
Guest Posted January 27, 2004 Report Share Posted January 27, 2004 Full Steam Ahead As Australian Economy Enters 2004 SYDNEY, Jan 27 Asia in Focus - The Australian economy finished the year on a strong note, with business conditions strengthening to near record levels, the NATIONAL AUSTRALIA BANK (ASX:NAB) said today. According to NAB's December quarter business survey, the broader economy continued to strengthen in the second half of 2003, with expectations of ongoing growth in domestic demand and Australian gross domestic product (GDP) growth of four per cent in 2004. However, the quarterly survey said at the industry level, domestically orientated sectors that were strong all year now appeared to be peaking, especially in construction. Link to comment Share on other sites More sharing options...
alceringa Posted January 27, 2004 Report Share Posted January 27, 2004 Yoo-hoo world markets Uncle Buck Spoo-Hoo's- Nasty- Globex Flash Quotes Link euroland Jo-burg Miners Here After Hours-USA Island AM Market Call By CNNMoney From Bloomberg 0425AM Stool HQ Time German Business Confidence Rises to Three-Year High, Defying Euro's Gains German business confidence unexpectedly advanced in January to a three-year high, suggesting executives in Europe's largest economy are optimistic they will overcome the effects of the euro's appreciation. European Stocks Advance, Paced by Deutsche Telekom on Subscriber Growth ECB's Tumpel-Gugerell Says Bank Isn't Considering an Interest-Rate Cut Now Bloomberg Link to comment Share on other sites More sharing options...
The brown one Posted January 27, 2004 Report Share Posted January 27, 2004 We always take our lead from the US--so the inevitable boner blast occurred from the opening bell.Currently 1.4% up. All the banks participating.Banks also making noises about returning to the more traditional role of managing money for the rich. Not going to fulfill that risky role of lending money to businesses anymore cos they've had their fingers burned a bit in recent years. Oz's bank scandal even got a couple of lines on our tele-text!! Parmalat doesn't anymore--too big to contemplate I guess. Consumer confidence here still in the doldrums while producer confidence rising.No wonder that consumers aren't confident here--sick insurance has virtually doubled in 2 years,pension premiums have increased dramatically(some were even non-contributory in the heady ninetees),pack of fags is about to go up by 20+%--gubmint increases duty by a hefty whack and the fag companies say that this may damage their biz so they're going to charge more to compensate--never heard this being said before.Must get shares as these companies are going to be very profitable! Suspect that the AEX now goes to retest its breakout of 345,now that everyone is in the bull camp.Depends on the USD I suppose. Link to comment Share on other sites More sharing options...
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