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Australian Investment Blog

Afternoon Report 17/03/2016

Afternoon Report Thursday 17th March 2016

Due to technical difficulties, this afternoon report is reaching you inbox a little late. We apologize for the inconvenience.

  • A volatile session was experienced this morning as expected, with the broader market selling off as low as 5,119, only to climb back and rally 49 points (+1%) to 5,168.
  • The major banks provided some assistance with the broader market’s strength. Commonwealth Bank (CBA) closed $1.34 (+1.8%) at $77.38.
  • Fortescue Metals (FMG) roared 9.1% higher to $2.65, while BHP closed 2.4% higher to $17.29.
  • The Gold sector rallied as expected, Newcrest (NCM) closed 6.5% higher to $17.67, while the recently battered, Regis Resources (RRL) closed 3.5% higher at $2.36. Market Matters bought a gold name today as mentioned live to Subscribers.
  • On corporate earnings, retailer : Myer (MYR) surprised investors to the upside with their half year result, rallying 12.7% to $1.24.


Best Sector – Energy
Worst Sector – Telcos


Winners
Mesoblast Ltd (MSB) +$0.38, or (+15.7%) to $2.80
Myer Holdings Ltd (MYR) +$0.14, or (+12.7%) to $1.24
Fortescue Metals Group Ltd (FMG) +$0.22, or (+9.1%) to $2.65
Newcrest Mining Ltd (NCM) +$1.07, or (+6.5%) to $17.67

Losers
Retail Food Group Ltd (RFG) -$0.29, or (-5.4%) to $5.11
Tassal Group Ltd (TGR) -$0.13, or (-3.4%) to $3.67
ResMed Inc (RMD) -$0.29, or (-3.7%) to $7.45
Slater & Gordon Ltd (SGH) -$0.015, or (-5.2%) to $0.275


All figures contained from sources believed to be accurate. MarketMatters 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 17/03/2016. 4.13PM.
Reports and other documents published on this website (‘Reports’) are authored by Market Matters. The MarketMatters Reports are based on technical analysis of companies, commodities and the market in general. Technical analysis focuses on interpreting charts and other data to determine what the market sentiment about a particular financial product is, or will be. Unlike fundamental analysis, it does not involve a detailed review of the company’s financial position.
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