Tuesday 11 September 2012

Wednesday 12 Sept 2012 (Morning)


US Indices shrugged of yesterday’s slide to post new multi-year highs, with the Dow at the highest levels it has seen since 2007.

Indices
Current
+/-
%
Dow Jones
13323.36
69.07
0.5211
S & P 500
1433.56
4.48
0.3135
NASDAQ
3104.53
0.51
0.0164




FTSE 100
5792.19
-1.01
-0.0174
DAX 30
7310.11
96.41
1.3365
CAC 40
3537.3
31.25
0.8913
Milan MIB30
16226.66
134.6
0.8364




Nikkei
8807.38
-61.99
-0.6989
Hang Seng
19857.88
30.71
0.1549
Hang Seng China Enterprises
9377.07
0
0
Straits Times
3016.4
7.68
0.2553
Shanghai Composite
2120.554
-14.3386
-0.6716

Spot Gold is up to 1733.

NYMEX WTI Oct 12 was up 0.63 to $97.17

The AUD was buying $1.0431 USD

The SPI futures are currently up 18 points.

Not too much happening on the dividend front today, with only 4 securities going ex:

ExDivDate
Security
Description
DivAmnt
Last
Yield %
Frk(%)
PayDate
12-Sep-12
EQT
Equity Trustees
45
1320
3%
100
16-Oct-12
12-Sep-12
ETSCOC
Exchange Traded Sec - ETS The Coca-Cola Co
10.58
6850
0%
0
8-Oct-12
12-Sep-12
IGO
Independence Group
1
378
0%
100
28-Sep-12
12-Sep-12
RBSCOC
RBS PLC - RBS Coca-Cola Co
21.17
0
-
0
8-Oct-12


Everyone seems to be on edge in wait for the German Constitutional Court Ruling and the results of the FOMC meeting this week, volume was particularly muted on the US markets last night.

The German Court Ruling is the only substantial piece of news that is due today; it would seem that their approval is priced into the market, with most participants expecting that the court will allow the ECB action to proceed. Should the court rule adversely, we can expect substantial volatility with increased downside risk in the near term.





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