Afternoon Report Wednesday 1 April 2015
• The ASX 200 started the month in a dull and choppy session, ending the day 30 points lower at 5860.• The driver of today’s weakness was none other than the resources sector, following overnight’s movements and Iron Ore down 2% in Asian trade. BHP Billiton (BHP) down 2.2% at $30.34, Santos (STO) down 2.9% at $6.93 and Newcrest Mining (NCM) down 1.7% at $13.14.• Macquarie Group performed well out of the financials, up 1.2% at $77.60• Vocus (VOC) outperformed the ‘telcos’ space, closing 4.1% higher at $6.11 versus Telstra (TLS) up 0.3% at $6.33 and iiNet (IIN) down 1.4% at $8.71.• This afternoon, 'Abenomics' architect says BOJ must ease again on April 30 – Reuters, meaning more $$$ flooding into the Japanese market to stimulate the economy.
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