Australian banks Australian LNG Australian Shares Commodities Iron ore price

Stocks rebound as…iron ore goes limit up!

Friday, 22 April 2016

Lol, in what is now a metronomic event, Dalian has again surged limit up pushing stocks back to flat from a solid fall earlier. Despite the moonshot, BHP is still down -2%, RIO -1.4%, FMG-2.6% as even the giddy ASX is now doubting its luck:

Likewise, oil has surged during the day and but LNG is failing to follow with WPL 05%, OSH 1.2%%, ORG -1.5%, STO -0.5% and LNG 1.7%:

Banks are hanging on despite Ian Narev’s call for a Royal Commission into customer whining with CBA -.5%, WBC flat, NAB 04%, ANZ 02%, BOQ -0.6%, SUN flat, BEN flat and MQG -0.2%

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.