- The ASX 200 was a disappointment (again) after a good lead from the U S market overnight. Our market started well but faded fast after the opening bell, closing up 7 points to 5,117.
- On the back of light volume, the resource sector was weak with BHP Billiton (BHP) down all day and closing at $16.83, down 30c. RIO Tinto (RIO) tried harder and was briefly up on the day, but closed down 65c to $42.23. Fortescue Metals (FMG) was also friendless, trading down most of the day and closing down 3c to $1.74.
- One of the standouts today was Flight Centre (FLT) which traded as high as $39.13 before closing only a bit lower at $38.88, up $1.88 (+5.1%).
- Oil and Gas stocks were generally stronger with the exception of Origin Energy (ORG) which announced today that they had taken a hedge position against further weakness in the oil price. The market appeared to like this news for a while with the stock trading up to $4.59. But selling came in around mid-day and the stock hit a low of $4.37 before closing at $4.38, down 8c.
Best Sector – Industrials
Worst Sector – Materials
Winners
Slater & Gordon Ltd (SGH) +$0.085, or (+9.5%) to $0.98
Austal Ltd (ASB) +$0.095, or (+6.5%) to $1.57
Flight Centre Travel Group Ltd (FLT) +$1.88, or (+5.1%) to $38.88
Independence Group NL (IGO) +$0.10, or (+4.3%) to $2.42
Losers
Liquefied Natural Gas Ltd (LNG) -$0.02, or (-2.7%) to $0.725
OZ Minerals Ltd (OZL) -$0.12, or (-3.1%) to $3.72
Mayne Pharma Group Ltd (MYX) -$0.06, or (-4.2%) to $1.385
Karoon Gas Australia Ltd (KAR) -$0.075, or (-4.5%) to $1.585
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 22/12/2015. 4.30PM.
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