The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) was up 0.4% at lunchtime, following mixed leads from international markets overnight.
What happened overnight:
- Dow Jones (USA) – up 0.47%
- NASDAQ (USA): up 0.44%
- FTSE 100 (UK): down 0.63%
- DAX (Germany) – up 0.06%
- EURO STOXX 50 (Europe) – down 0.22%
Despite the futures market forecasting a soft opening, after a brief moment in the red earlier today the ASX 200 staged a strong recovery, with banks and industrials leading the way. An upbeat outlook by management at the Westpac Banking Corp (ASX: WBC) Annual General Meeting today may have been the catalyst.
ASX movers:
- Sirtex Medical Limited (ASX: SRX) – up 4.3%
- Alumina Limited (ASX: AWC) – up 4.09%
- Senex Energy Ltd (ASX: SXY) – up 4%
- Woodside Petroleum Limited (ASX: WPL) – up 1.3%
- CSL Limited (ASX: CSL) – up 1.67%
At the other end of the market, resources and mining shares again featured prominently. Given further falls in iron ore prices overnight, and a somewhat unexpected trading halt of BC Iron Limited (ASX: BCI) yesterday, the outlook appears bleak for many high-cost miners.
ASX shakers:
- Sundance Energy Australia Ltd (ASX: SEA) – down 12%
- Atlas Iron Limited (ASX: AGO) – down 6.2%
- Cardno Limited (ASX: CDD) – down 11%
- Arrium Limited (ASX: ARI) – down 4.35%
- CSR Limited (ASX: CSR) – down 3%
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