Quay Mid-Day Market Update
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The Australian Share Market opening the day with a strong rally which was led by rallies overnight in Crude Oil and Iron Ore. With Wall Street having a flat session it was all about commodities today.Market Turnover on the day was exaggerated due to options expiry. Turnover into lunch was $3.255 billion. The market has run very hard this morning and with a very quiet day of economic releases in the Asia pacific region I expect some profit taking in the afternoon session with the market finishing up around 45 to 50 points. Around the market it was definitely a day to be a commodity related stock with the resource, energy and gold sector outperforming across the board. Resource stocks continuing its momentum from yesterday. BHP (+2.45%), Rio Tinto (+2.24%) and Fortescue (+5.26%) all having strong days. While the sector had better news yesterday, you do get the feeling a lot of today’s trade could be short covering.... For the entire wrap please visit (VIEW LINK)
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Quay Equities is a privately owned investment advisory firm independent of banks and brokers. This enables us to focus solely on our clients’ needs whilst providing conflict-free advice on Australian Shares. The team at Quay specialise in...
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![Quay Equities](https://www.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBcDREIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--239105b71a0a62ec1918ed085d379507d0aec274/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJY0c1bkJqb0dSVlE2RTNKbGMybDZaVjkwYjE5bWFXeHNXd2RwQWNocEFjZz0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--c306068f01ab83c3650795f1865f4e6da1f93433/bd859ad686e4ea8ae112df080bb8f3361395709088.png)
Quay Equities is a privately owned investment advisory firm independent of banks and brokers. This enables us to focus solely on our clients’ needs whilst providing conflict-free advice on Australian Shares. The team at Quay specialise in...
Expertise
No areas of expertise