Morning Report 24 Nov 2014: Miners cheer the surprise cut to Chinese lending rates. •US sharemarkets posted solid gains on Friday with the Dow Jones and S&P 500 indexes at record highs. •But restraining the gains were declines by key technology stocks with Microsoft down 1.5% and Netflix down 2.1% •Australian market down by 11pts by the end of trade last Friday •The People’s bank of China(Central Bank) will cut 1 year deposit rate to 2.75% from 3.0% & lending rate to 5.6% •Euro stoxx up by 92pts •BHP and Rio up by 5% each in London trade •Schlumberger up by +1.80% •Caterpillar up by 4.27% •Oil price at US$76.70/barrel •Speculation that OPEC may reduce production quota on Thursday •Gold price up by US$11/ounce to US$1,202.20/ounce •Australian market set for a 52pts gain at the start of trade •Australian $ at 0.8667 US cents Source: https://youtube/watch?v=uKvDOoDwDSI&list=PL468C060A35A7B82B Disclaimer: *Justin McMillan is an Authorized Representative of RI Advice Group Pty Limited (ABN 23 001 774 125), Australian Financial Services License 238429. This editorial does not consider your personal circumstances and is general advice only. You should not act on the information provided without first obtaining professional financial advice specific to your circumstances. The taxation information contained in this editorial is provided as a guide only and should not be relied upon. You should seek independent tax advice from a qualified tax adviser.
Posted on: Mon, 24 Nov 2014 00:30:31 +0000
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