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Australian Investment Blog

Afternoon Report 03/02/2016

Afternoon Report Wednesday 3 February 2016

  • Another sell off in the market saw the ASX 200 finish virtually on its lows after another weak night across the boards. The ASX 200 finished down 116 (-2.3%) to 4,877.
  • The banks were extremely weak with Australia New Zealand Bank (ANZ) down 3% to $23.67, Commonwealth Bank (CBA) down 2.9% to $75.73 and Westpac (WBC) closed down similarly 2.9% to $29.43.
  • National Australia Bank (NAB) went ex the Clydesdale and Yorkshire Bank this morning which knocked about three percent off the share price, which together with the other banks sell off, took a toll on the stock with a drop of 5.5% to $26.36.
  • BHP Billiton (BHP) was sold off on the weakness in oil, however it managed to hold above its intra-day low of last week; $14.06. Today’s low was $14.17 but managed to close at $14.28, down 65c (-4.4%)
  • RIO Tinto (RIO) was a different picture today in that it continued to make new lows after a breakdown yesterday. The stock finished down 51c to $37.03; lows not seen since around February 2009.


Best Sector – Utilities
Worst Sector – Energy

Winners
Seven West Media Ltd (SWM) +$0.005, or (+0.6%) to $0.81
Healthscope Ltd (HSO) +$0.04, or (+1.8%) to $2.33
Fortescue Metals Group Ltd (FMG) +$0.03, or (+1.9%) to $1.62
ResMed Inc (RMD) +$0.14, or (+1.8%) to $8.16
Losers
Woodside Petroleum Ltd (WPL) -$1.35, or (-5%) to $25.65
Origin Energy Ltd (ORG) -$0.21, or (-5.2%) to $3.80
National Australia Bank Ltd (NAB) -$1.55, or (-5.5%) to $26.36
Breville Group Ltd (BRG) -$0.36, or (-5.7%) to $5.94


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 03/02/2016. 4.13PM.
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