- After a poor start to the day that saw the ASX 200 index down 37 points in the first hour, the market started to rally quite strongly and by lunch time the market was up 75 points from its lows of 4,909 and closed 30 points higher (+0.6%) at 4,976.
- News this morning that Qube Holdings (QUB) had lifted its bid on Asciano Ltd (AIO). QUB is now offering $6.97 cash and one Qube share for every Asciano share, valuing the company at $9.08 a share. AIO closed up 34c (+4%) at $8.84.
- The banks were thought to be a concern before the market opened, when it was reported that Australia New Zealand Bank (ANZ) were looking at possibly cutting their dividend. However, this proved to be no deterrent to the investors, with ANZ being the strongest bank on the bourse. At the close ANZ finished up 37c (1.5%) to $24.04.
- The other banks had a good day too with Commonwealth Bank (CBA) closing up 23c to $77.83, National Australia Bank (NAB) closed up 20c to $27.10 and Westpac Bank (WBC) closed up 15c to $30.48.
- The Iron Ore names had a great day today, with RIO rallying 2.2% higher to $38.93, FMG closed 4.1% higher at $1.52 and BHP has held above the $15 mark finishing up 0.6% at $15.10.
Best Sector – Telecos
Worst Sector – Consumer Discretionary
Winners
Aurizon Holdings Ltd (AZJ) +$0.17, or (+4.7%) to $3.78
Fortescue Metals Group Ltd (FMG) +$0.06, or (+4.1%) to $1.52
Asciano Ltd (AIO) +$0.34, or (+4.0%) to $8.84
Qube Holdings Ltd (QUB) +$0.08, or (+3.8%) to $2.18
Losers
ResMed Inc (RMD) -$0.22, or (-2.6%) to $8.15
WorleyParsons Ltd (WOR) -$0.10, or (-2.9%) to $3.32
ALS Ltd (ALQ) -$0.15, or (-4.1%) to $3.51
Alumina Ltd (AWC) -$0.06, or (-5.4%) to $1.06
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 28/01/2016. 4.25PM.
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