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The Aussie market is slightly underwater heading into the afternoon session, currently eight points underwater at 4260.

The sectors are fairly evenly balanced with industrials, IT and energy plays the best, whilst consumer staples, utilities and healthcare struggling.

There isn’t a great deal of important company news affecting the market, although Lynas is 7% weaker with traders seemingly taking some profit off the table after yesterday’s strong move higher.

Around the region, Asian markets slightly weaker; the Hang Seng and Nikkei are off 0.2% each.

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International markets were very subdued overnight with investors awaiting the outcome of the Greek debt negotiations and tonight’s US non-farm payrolls data.

In Europe the FTSE gained five points (+0.1%) to settle at 5796, whilst the CAC (+0.3%) and DAX (+0.6%) fared slightly better.

In market news out of the region, leaders are considering easing rules for lenders whilst at the same time involving central banks in the Greek haircut deal.

Stateside, the Dow Jones lost 11 points (-0.1%) to settle at 12705, whilst the S&P 500 added 0.1% and the tech-heavy Nasdaq advanced 0.4%.

Jobless claims fell by 12,000 to 367,000 last week. The number of people still receiving unemployment benefits fell by 130,000 to 3.4 million – the lowest since September 2008.

US non-farm productivity rose by 0.7% over 2011 – marking the slowest rate since 2008. Unit labour costs rose at a 1.2% rate in the fourth quarter against expectations of 0.8%. The increase in wages pointed to moderate inflationary pressures.

The Aussie dollar remained strong, holding above the US$1.07 handle, whilst the euro fell against the majority of its most-traded counterparts as Greece struggles to reach an agreement with its bondholders on cutting the nation’s debt burden.

Oil fell US$1.25 (-1.3%) to US$96.36 a barrel as yesterday’s higher inventory data continued to soften prices.

Base metal prices were generally weaker in response to continued sluggish demand from top buyer China. Gold added 0.7% US$1,765 an ounce.

There is no major local economic data due out for today’s session.

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Aussie shares jumped higher today, following a collective rally in overseas markets overnight.

All sectors ended in positive territory with the exception of Health Care, which was weighed down by a 1.3% fall in CSL.

The big four were stronger on the day; CBA and ANZ both put on 0.4%.

The major miners outperformed the general market amid higher commodity prices. Rio soared 2.9% while rival BHP put on 1.9%.

Lynas was the big gainer amongst the top 200, surging 19.1% after it announced the approval of a temporary operating licence for its plant in Gebeng Malaysia.

Wesfarmers was up 0.6% after its 2Q12 sales result showed Coles total sales of $9.4 billion, a 6.7% rise on the previous corresponding quarter.

The ASX 200 strengthened 42 points (+1%), to close at 4268.

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The Aussie market is enjoying solid gains so far today but has come off its early highs a little.

The XJO is currently 45 points (+1.1%) above water, currently trading at 4270 following the strong offshore leads overnight.

The IT sector is the strongest on the day on the back of a 3% gain in Computershare (CPU).

The materials and telcos sectors are also enjoying strong gains whilst the healthcare sector is the only one in the red.

In company news, Lynas today confirmed that Malaysia’s Atomic Energy Licensing Board has announced its approval of the temporary operating licence for its plant in Gebeng, Malaysia.

Elsewhere, Wesfarmers is slightly stronger on the day after Coles posted total 2Q sales of $17.5 billion, a 7.3% rise on the previous corresponding quarter.

Around the region, Asian markets are all trading higher; the Hang Seng is up 1.3% whilst the Nikkei is 0.8% stronger.

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After ending January on a bit of a down note, international markets rallied solidly overnight to begin the new month firmly in the green.

In Europe the Greek debt deal inched closer to agreement with bondholders now likely to receive a sweetener tied to a revival in economic growth.

Better-than-expected German PMI data also provided a boost, expanding for the first time since September last year.

The FTSE added 109 points (+1.9%) in London to settle at 5791, whilst the CAC (+2.1%) and DAX (+2.4%) also recorded significant gains.

Stateside, the Dow Jones added 84 points (+0.7%) to settle at 12717 after being up as much as 150 points, whilst the broader S&P (+1%) and tech-heavy Nasdaq (+1.2%) enjoyed even stronger gains.

The gains were driven by signs that recent employment gains and global manufacturing are sustaining their recent strength.

The US economy added 170,000 new private-sector jobs in January, in line with economists’ expectations.

Elsewhere in the US, a reading on manufacturing came in at 54.1 for January, a touch below expectations, although construction spending jumped 1.5% in December, better than expectations for a 0.5% rise.

The euro rose against the dollar for the first time in three sessions as the EU manufacturing index reading beat analysts’ estimates, adding to signs Europe’s economy is stabilizing.

Conversely the greenback fell versus 13 of its 16 most-traded peers after manufacturing in China and the US also rose, reducing demand for safe-haven assets.

Oil slipped 0.9% to US$97.61 a barrel after data showed that inventories rose four million barrels last week.

Base metal prices were generally higher in response to a weaker greenback and investor demand for risk assets, whilst gold rose modestly, adding 0.3% to US$1,749 an ounce.

In company news, Wesfarmers has reported a 6.7% year-on-year rise in Coles sales during the December quarter.

Today’s session will bring us data in the form of building approvals and the trade balance (11:30am, AEDT).

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The Australian market lost ground today, after mixed leads from international shares overnight.

Australian data released showed that new home sales fell by 4.9% in the month of December, with successive rate cuts by the RBA failing to have the desired impact.

All but two sectors were below water today, with Consumer Discretionary and Health Care the only ones to finish in the positive.

The big four weighed on the market as traders took profits following the significant gains in January and after UBS downgraded its rating for the industry to neutral.

Westpac was the worst performer of the big banks, dropping 1.4%.

The major miners were weaker after a poor night for metals; BHP lost 1.5% whilst rival Rio Tinto let go of 0.6%.

Aquarius Platinum crashed 12.5% after last night reporting a 4% fall production for the 2Q compared to the previous quarter.

Fairfax Media was the notable gainer on the market, soaring 10.1%, as speculation swelled that mining magnate Gina Rhinehart has bought an additional 8% stake in the business.

The ASX 200 sank 37 points (-0.9%), to close at 4226.

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The Aussie market is slightly underwater heading into the afternoon session, currently 10 points (-0.2%) weaker, at 4250.

The IT, materials and utilities sectors are the hardest hit, whilst the consumer discretionary, healthcare and telco sectors are the only ones in the green.

In company news, AQP and ERA are suffering heavy falls – 10% and 8% respectively – after reporting their latest production numbers.

Elsewhere, Fairfax is up close to 9% following news last evening that mining magnate Gina Rinehart has bought nearly 8% of the company.

In economic news, China’s PMI rose to 50.5 in January from 50.3 in December – higher than the median 49.5 economists had forecast.

The unexpected rise in the index will likely assuage market concerns about a slowdown in the world’s second-largest economy.

Around the region, Asian markets are generally stronger; the Hang Seng (+0.6%) and Nikkei (+0.2%) are amongst the best.

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Global equity markets were fairly subdued overnight with investors remaining on the fence with regard to prospects for economic growth, particularly with the unresolved Greek debt issue hanging over their heads.

In Europe the FTSE added 11 points (+0.2%) to settle at 5682, whilst the CAC enjoyed a 1% gain and DAX added 0.2%.

The European Commission opened the door to a possible softening of Spain’s deficit target, reflecting widespread acknowledgement that the existing goal is near-unattainable.

In other news out of the region, it is reported that bondholders negotiating a debt swap with Greece may get a sweetener tied to a revival in economic growth that would ease the impact of accepting a lower interest rate on the new bonds.

Stateside, the Dow Jones shed 21 points (-0.2%) to settle at 12633, whilst the S&P closed just one point lower and the Nasdaq added two points.

The move lower for the S&P sent the index to its longest decline since November, as reports showed consumer confidence trailed economists’ projections and business activity cooled.

The Aussie dollar recovered over the last 24-hours and is trading back towards the US$1.06 handle, whilst the euro fell to its weakest level in almost a week versus the greenback as investors speculated EU policymakers won’t be able to reach agreement over Greece.

Oil shed 0.3% to US$98.48 a barrel in a volatile trading session following the weaker-than-expected US economic data.

Base metal prices retreated with copper falling for a third consecutive session, down 1.4%.

Gold rallied in the last hour of trade finishing 0.3% higher at US$1,740.40 an ounce. For the month gold rose 11%.

In company news, Boral says it expects a 1H12 net operating profit of $65 million – $70 million, in line with the prior corresponding period’s result.

Today’s session will bring us data in the form of new home sales, the house price index (11:30am, AEDT) and commodity prices (4:30pm AEDT).

There is also manufacturing PMI data due out of China at midday, AEDT, which could impact our market.

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The Australian sharemarket ended below water today, following a weak session on international markets overnight.

Most sectors were in the red today, with the consumer staples being the major outperformer after its sales result came in line with consensus.

Ratings agency Fitch placed all four major banks on ratings watch negative last night.

However the big four were more or less unfazed by the potential downgrade. Westpac managed to put on 0.2%, while NAB lost 0.3%.

Mining giants BHP and Rio Tinto were mixed; Rio Tinto gained 0.2% whilst rival BHP let go of 0.5%.

The big news on the company reporting front was Woolworths’ (+1.4%) 2Q sales growing 5.1% on-year.  The retail giant also announced it would be selling its Dick Smith business.

The somewhat positive result from Woolworths improved sentiment towards the retailers. JB Hi-Fi soared 6.6% while David Jones surged 5.7%.

The ASX 200 let go of 10 points (-0.2%), settling at 4263.

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Despite the negative leads provided by international markets last night the Aussie market is faring reasonably well so far today.

The XJO is currently 10 points above water, holding around 4280.

Most sectors are stronger, with consumer discretionary and consumer staples stocks the best performers, whilst energy and financial plays are the hardest hit.

In company news, Platinum Australia has surged as much as 20% after releasing its latest quarterly activities report, whilst Gunns is 30% stronger after agreeing to debt refinancing terms.

Elsewhere, Woolworths has announced plans to sell its struggling Dick Smith consumer electronics division, saying that it was considering several unsolicited offers.

Around the region, Asian markets are mixed; the Hang Seng (+0.7%) and Nikkei (+0.2%) are stronger, whilst the Shanghai Composite (-0.3%) is weaker.

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