Australian Investment Blog

• The ASX tried to show some strength today, but it seemed every time it started to look stronger, the futures market would unleash its wrath and push it back down. The ASX 200 finished the day only 7 points higher (+0.1%) to 5,579. All in all, a very quiet lacklustre day.• The early rally in the session was based on the MSCI noting that it has delayed including ‘China A’ shares for benchmark index, meaning traders who recently bet for an asset allocation out of Australia (sell out) will not happen… YET. By 11.30AM, the RBA released its May minutes and what grabbed everyone’s attention was the comment by the RBA being ‘open to further interest rate cut’, aiding the $AUD weaken intraday.• There was little to show in the banks, with mixed results for the day. Australia New Zealand Bank (ANZ) and Westpac Bank (WBC) were both slightly down, whilst Commonwealth Bank (CBA) and National Australia Bank (NAB) were marginally better. ANZ -7c (-0.2%) to $31.09, WBC +1c (+0%) to $31.36, CBA +9c (+0.1%) to $79.91 and NAB +23c (+0.7%) to $31.83.• The Energy Sector was the stand out on the day after the crude oil price jumped 3.5% overnight. Woodside Petroleum (WPL) had the biggest impact to the market, up 62c (+1.7%) to $36.22, whilst Oil Search (OSH) finished up 21c (2.91%) to $7.43