- A disappointing session yet again, with the ASX 200 losing 42 points (-0.8%) to 5,038 after trading as low as 4,995 shortly after 1pm.
- The banks sold off, with Westpac (WBC) the weakest link, down 2% to $31.41 as investors sold the broader market, particularly after the employment data.
- All were surprised the unemployment data, reporting an additional 71,400 jobs, compared to a consensus of a loss of 10,000. Investors are now factoring a lower probability of a rate cut in the New Year. Note, New Zealand cut its interest rate this morning to 2.5%, while the US Federal Reserve meet next week for the anticipated likelihood of a rate rise.
- The Major resources had a break from its recent losing streak. BHP rallied 1.9% to $17.48, while RIO closed 2.4% higher at $43.06. Junior Miner, BC Iron (BCI) however, went into trading halt, as it now considers its future due to the descent in Iron Ore prices. BCI was last at $0.19.
Best Sector – Materials
Worst Sector – Financials
Winners
Arrium Ltd (ARI) +$0.007, or (+11.3%) to $0.069
Independence Group NL (IGO) +$0.11, or (+5.0%) to $2.29
Ardent Leisure Group (AAD) +$0.09, or (+4.2%) to $2.22
Spotless Group Holdings Ltd (SPO) +$0.04, or (+3.6%) to $1.14
Losers
APN News & Media Ltd (APN) -$0.03, or (-6.4%) to $0.44
Mesoblast Ltd (MSB) -$0.135, or (-8.1%) to $1.525
Whitehaven Coal Ltd (WHC) -$0.095, or (-11.6%) to $0.725
Austal Ltd (ASB) -$0.58, or (-25.4%) to $1.70
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 10/12/2015. 4.14PM.
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.
The Reports contain general, as opposed to personal, advice. That means they are prepared for multiple distribution without consideration of your investment objectives, financial situation and needs (‘Personal Circumstances’). Accordingly, any advice given is not a recommendation that a particular course of action is suitable for you and the advice is therefore not to be acted on as investment advice. You must assess whether or not any advice is appropriate for your Personal Circumstances before making any investment decisions. You can either make this assessment yourself, or if you require a personal recommendation, you can seek the assistance of a financial advisor.
The Reports are published by MarketMatters in good faith based on the facts known to it at the time of their preparation and do not purport to contain all relevant information with respect to the financial products to which they relate. Although the Reports are based on information obtained from sources believed to be reliable, Market Matters does not make any representation or warranty that they are accurate, complete or up to date and Market Matters accepts no obligation to correct or update the information or opinions in the Reports.
If you rely on a Report, you do so at your own risk. Any projections are estimates only and may not be realised in the future. Except to the extent that liability under any law cannot be excluded, Market Matters disclaims liability for all loss or damage arising as a result of any opinion, advice, recommendation, representation or information expressly or impliedly published in or in relation to this report notwithstanding any error or omission including negligence.
