The Aussie market jumped out of the blocks this morning, largely ignoring the soft leads provided by U.S. markets on Friday night.
The ASX 200 made it up to 5455 but the bulls couldn’t maintain their rage and the index has since slipped back to 5436 to presently be a couple of points underwater.
The sectors are fairly evenly balanced between winners and losers; materials, consumer discretionary and industrials plays are the strongest, whilst telcos and consumer staples are the laggards.
In economic news, UBS has said results this reporting season are so far in line with expectations.
The investment bank says increased revenues, due to the lower dollar combined with cost cutting will help earnings growth going forward.
Around the region, Asian markets are mixed; Hong Kong (-1%) and Shanghai (-1.6%) are taking a hit, whilst the Nikkei has added 0.1%.