Australia Overnight, flat results

Wednesday, 6 April 2011 08:01

ASX200 -9pts (-0.20%) to 4891
AUD/USD 1.0362 (+0.3%)
GOLD US$1451.65 (+0.3%)

Australian stocks are trading lower, taking a breather from the recent rally and lack of direction from offshore and profit taking. Home loan data revealed ongoing softness in economic activity outside of mining related sectors – Home loans for February -5.6% vs -2% expected. Volumes have been light.

TURNOVER $2.2BN (Average)

BEST: Health care, Consumer staples, Materials
WORST: Industrials, Consumer Discretionary, Energy