Macro Afternoon

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by Chris Becker

A generally positive day for stocks in Asia, with the poor lead from Wall Street overnight overturned by optimism. The only fly in the ointment is Chinese, with the Shanghai Composite currently poised with a scratch session heading into the close, while Japanese stocks have lifted as Yen sold off slightly. Eurostoxx futures are pointing to a 0.2% drop as we head into the London open.

The ASX200 just closed in the green today, up 0.1% to 5535 points after a dour open. BHP rallied nearly 3% the day after announcing its disappointing full year profit while CSL, QBE and Newcrest were the biggest losers among the larger stocks. Dominos (DOM) was the biggest winner, surging nearly 8% after its latest stellar earnings, and ramping up before the stock goes ex-dividend.

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