Good afternoon everyone have a good day tomorrow on Australia Day!
- Light traffic in Sydney, and light volumes on the ASX today as most take the opportunity for a four day weekend.
- Those of us toiling away saw a very good session on the bourse, mainly supported by the banks which accounted for more than half of the move higher. The ASX 200 added 91 points or (+1.8%) to 5,006
- Resources were subdued after S&P downgraded their commodity price forecasts over the weekend, seeing Iron Ore at $40 and Oil at $45. We’ll never accuse them of being ahead of the curve! Those who have seen ‘The Big Short’ will concur. BHP did finish slightly positive today up 2c to $15.28.
- Elsewhere, Challenger Group Financial (CGF) re-affirmed their earnings guidance, and the stock popped higher – adding 44c to $7.78. Of course, this was a stock we held in 2015 and sold at higher levels. We’re looking for another opportunity at lower prices.
- HealthScope (HSO) edged higher today, after a few disappointing weeks of trade following 1. The Governments discussion on health care funding 2. A negative broker research note on the private hospital sector 3. Medibank’s earnings upgrade last week sighting ‘better claims outcomes’, which is clearly a negative for Medibanks service providers such as HealthScope.
- Markets closed tomorrow for a Australia Day…Let’s hope we have some sunshine.
Best Sector – Financials
Worst Sector – Consumer Staples
Winners
Slater & Gordon Ltd (SGH) +$0.11, or (+18.6%) to $0.70
Liquefied Natural Gas Ltd (LNG) +$0.07, or (+11.7%) to $0.67
Beach Energy Ltd (BPT) +$0.04, or (+10.8%) to $0.41
Challenger Ltd/Australia (CGF) +$0.44, or (+6%) to $7.78
Losers
Qantas Airways Ltd (QAN) -$0.11, or (-2.8%) to $3.86
OZ Minerals Ltd (OZL) -$0.17, or (-4.2%) to $3.86
Treasury Wine Estates Ltd (TWE) -$0.48, or (-5.2%) to $8.80
Cardno Ltd (CDD) -$0.07, or (-6.4%) to $1.025
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 25/01/2016. 4.20PM.
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