• support@capitalstreetfx.in     0124.400.4440

About Us

Capital Street Inter markets Limited is a Global Business Company (GBC1) incorporated and regulated by the Financial Services Commission, Mauritius. It is fully licensed and regulated by the FSC Mauritius, as a Full Services Investment Dealer....

Contact Info

  • 9th Floor, Ebene Tower, 52 Cybercity Ebene, Republic of Mauritius

  • +1-949-335-4314

  • support@capitalstreetfx.in

  • Sunday: Closed

ASX 200 INCHES UP ON GAINS IN FINANCIALS; POOR EARNINGS WEIGH - Capital Street FX

    • Home
    • News
    • ASX 200 INCHES UP ON GAINS IN FINANCIALS; POOR EARNINGS WEIGH
13-Feb
19:17 IST

ASX 200 futures are currently trading at 7005-lower by 0.71% as compared to the previous closing. The contract, however, closed in the positive territory in the last trading session.

In the Cash Markets, the ASX 200 added 0.21% to close at 7,103.20 on Thursday. The benchmark index rose 0.47% in the previous session.

The ASX 200 inched up today on the rise in financial shares, although gains were capped as new coronavirus cases in China rose.

Index component National Australia Bank Ltd gained 1.38% after it said it was considering a fresh stock sale and would improve its strategy. The gain helped the financials index to climb to its highest since 28th October.

Stocks of AGL Energy Limited rose 3.59% after it forecasts full-year profit to be at the higher end of its forecast range given in the last year.

The market sentiment was, however, dampened by a jump in the daily death toll from the coronavirus outbreak in China.

Lower-than-expected corporate earnings also weighed on the ASX 200.

Gas producer Woodside Petroleum inched down 0.35% after it reported a drop in annual underlying profit and warned the China-linked virus epidemic was obstructing its efforts to seal gas deals.

Telstra Corp lost 1.57% after it reported a lower half-year profit and a federal court approved the merger of its rivals Vodafone’s Australian joint venture and TPG Telecom.

The news, however, sent stocks in TPG Telecom to their highest since September 2018.

Index component Caltex Australia rose 2.43% on a buyout offer of $5.91 billion from Canada’s Alimentation Couche-Tard.

On the economic front, Consumer Inflation Expectations for February released earlier today came in at 4%. Inflation Expectations were below the market expectation of 4.3%.

On the technical front, the RSI is currently at 57.43% and suggests that the market can move in the downward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger bands but is heading downwards.

Overall Bias is Negative and short-term trades can be initiated with below mentioned Stop Loss and Profit targets.

 

Trade Suggestion- Limit Sell At 7010 Take Profit At 6970 Stop Loss At 7030

Leave a Reply

Your email address will not be published. Required fields are marked *

Hi Please share contact detail & write any comments below, our team will try to call soon.