Market Matters Afternoon Report Friday 1st July 2016

Afternoon Report 01/07/2016

Market Matters Afternoon Report Friday 1st July 2016

Good Afternoon everyone

Market Data

What Mattered Today

The first day of the financial year opened with a bang then finished with a whimper – as it seemed yesterday’s +91pts rally foreshadowed a decent day today. Anyway, we’ll take it and with some luck the ASX will have a better 16/17 financial year than last. A range today (CM) of +/-43pts. 5235 low, 5278 high and a close at 5246; up +13pts or +0.25%..

Interesting to look at the performance from sectors/stocks last year as a point of reflection before pushing off into the 16/17 financial year. As discussed yesterday, the big movers were in the gold space which bottomed out in 2015 after a very torrid time since the 2013 lows…

We also saw the defensive sectors perform pretty well – such as healthcare, however as we’ve discussed in recently notes, those areas of the market that have been well supported may not necessarily be the sectors to be in going forward.

Sectors Today

Good show by the miners today with the sector up +2.13% despite Chinese official manufacturing data coming in as expected @ 50 yet the Caixin flash PMI printed +48.6 v 49.1 forecast – so a touch below which underpinned the late sell-off.

Source; Bloomberg

ASX 200 Movers

What Matters Overseas

FUTURES mixed tonight as political posturing continues to play out in the UK.

***Keep an eye out for the Market Matters Weekend report on Sunday***

Regards,
The Market Matters Team
28-34 O'Connell St
Sydney, NSW 2000

All figures contained from sources believed to be accurate. Market Matters does not make any representation of warranty as to the accuracy of the figures and disclaims any liability resulting from any inaccuracy. Prices as at 1/07/2016. 4:00PM.

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