Big iron is trying to rally today but largely failing after weakish overnight action in Dalian (which seems closed today). BHP and RIO are both up 0.4% and FMG a more delusional 2.7%:
Nobody seems to have noticed that FMG is dumping iron ore at a record discount…
Meanwhile, big gas can’t believe it’s own luck as WPL falls -1.6%, OSH is 1.1%, STO is 0.7% and ORG -0.4% despite the oil rocket:
The ludicrous action in LNG rolls on, though, having doubled this week just because.
Gold miners are mixed but still looking very firm as the precious metal is still warming up:
Finally, banks are weak, perhaps on worries about RBA inaction or APRA action, with CBA -1.3%, WBC -1.5%, NAB -0.9%, ANZ -1.4%, BOQ flat, SUN -0.3%, BEN -0.9% and MQG 0.4%:
Not much of a party market today despite the S&P500 fun.
