Earnings boost
August 16th 2006 17:42
Encouraging earnings reports lifted the market yesterday with the ASX S&P 200 benchmark index lifting 0.5%. Insurance firms like QBE Insurance and Insurance Australia Group gained the spotlight by posting some good earnings while the high oil prices added to the coffers of Woodside in its June quarter.
Across the pacific, the US markets were lifted by a less than expected production price index which just gained 0.1% to date, which would encourage the Feds to maintain its current interest rate in the short to intermediate term. What is good for the US market is very likely to be good for the local bourse.
Meanwhile the Portfolio I set up last Friday will be scrapped from my watch as there were some problems with the strategy initially. However I have another porfolio called Portfolio 1 - EW, which was set up at the same time with the Portfolio, would be up for watch here as this portfolio was constructed on a refined strategy. Watch this space.
Across the pacific, the US markets were lifted by a less than expected production price index which just gained 0.1% to date, which would encourage the Feds to maintain its current interest rate in the short to intermediate term. What is good for the US market is very likely to be good for the local bourse.
Meanwhile the Portfolio I set up last Friday will be scrapped from my watch as there were some problems with the strategy initially. However I have another porfolio called Portfolio 1 - EW, which was set up at the same time with the Portfolio, would be up for watch here as this portfolio was constructed on a refined strategy. Watch this space.
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