Australian banks Australian LNG Australian Shares Commodities Iron ore price

Shares bask in ray of sunshine

Tuesday 17 May 2016

The bulls are running today just because as big iron rockets with BHP is 3%, RIO 1.3% and FMG a ludicrous 6% as Dalian is flat:

Big gas at least has a rising price for its gains with WPL 2.3%, OSH 3.6%, STO 5% and ORG 4.3%:

Banks too are off to the races despite a very confused RBA:

CBA is 0.8%, WBC 04%, NAB -3.3% ex-div, ANZ 0.8%, BOQ 0.7%, SUN 0.7%, BEN 2.2% and MQG -1.7%.

Even poor old McGrath caught a little bid today 0.5% to $1.02.

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.