MARKET TALK: S&P/ASX 200 Down 1.3% After Paring Losses

19th Jul 2010 04:36

0336 GMT [Dow Jones] Australia's S&P/ASX 200 down 1.3% at 4366.6 after bouncing to 4370.7 as Shanghai has turned up 0.4%, while S&P 500 futures and the AUD up 0.2%. But the market remains extremely quiet with Tokyo closed today. On the charts, index looks weak while below its 20-day moving average, near 4385. All sectors of the market are down except health care, with Healthscope (HSP.AU) surging 10% after recommending a takeover offer by TPG (TPG.XX) and Carlyle (CAY.XX). Major banks down 1.5%-1.9%, while Macquarie (MQG.AU) down 2.5%. Miners mostly weaker, with BHP (BHP.AU) down 1.1%, Rio Tinto (RIO.AU) down 0.9%. Aquarius Platinum (AQP.AU) down 24% on tighter safety standards at South African platinum mines, while Sundance Resources (SDL.AU) down 7.7% after resuming trading from suspension, since June 20, when a plan crash killed most board members. Energy stocks mostly weak, Woodside (WPL.AU) down 1.8% as crude oil prices continue to slip. Riversdale (RIV.AU) down 5.2% after resuming trading after a capital raising. But Santos (STO.AU) up 1.1% after securing A$2 billion loan facility to help fund LNG projects. AWE (AWE.AU) down 4.2% after its Kahu-1 well failed to strike oil. Among industrials, Leighton (LEI.AU) down 3.0% and Brambles (BXB.AU) down 1.4%. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires July 18, 2010 23:36 ET (03:36 GMT)