Quote:
Originally Posted by ACE
The Mum & Dad investors are still hurting from the sharemarket dive immediately following Rudds initial announcement of his intent to introduce this SPRT.
16 billion dollars was wiped from ASX resources companies in just 1 day.
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Some real facts:
JUNE 8TH 2010 WORLD INDICIES
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DJIA……....6440 up to 11309 down to 9817 a 76% increase… 13.2% decrease
S&P500……… 667 up to 1220 down to 1051 a 83% increase… 13.8% decrease
FTSE100……3461 up to 5834 down to 5007 a 69% increase… 14.2% decrease
ASX200….….3073 up to 5025 down to 4381 a 64% increase… 12.4% decrease
DJIA = Dow Jones Industrial Average (USA)
S&P500 = Standard & Poors top 500 Companies (USA)
FTSE100 = Top 100 Companies on London Stock Exchange
ASX200 = Top 200 Companies on Australian Stock Exchange
Spot Metal Prices:
% Down from Recent Peak Prices:
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Copper 24%
Nickel 32%
Aluminum 24.5%
Gold 6% up
Its a fact that the
mass media hysteria simply does not stand up to proper scrutiny. This talk of a new tax simply is not the cause of the recent share market drop.
Australian Superannuation Funds and very large international funds have been selling down their stakes in the majority of ASX200 companies since mid April. This coincides with a drop in spot base metal prices around the world, and a lack of risk appetite by currency traders for the Australian dollar.
Australian based currency shares have been sold down and converted into US dollars as base metals prices have dropped.
The flip side to all this is that as the Australian dollar has dropped 13% (same as base metals index) from its recent peak, Oz exports priced in US dollars now earn Aussie companies 13% more. i.e. Iron Ore, gold and precious metals from BHP, RIO, FMG, MMX, MGX, AGO, NCM and others.
NOW Y'ALL GOT ALL THAT!!!
J