- The ASX 200 felt like it really was on the skids, with the resources and energy names being sold off, yet again. The market closed down 47 points (-0.9%) to 5,108.
- The energy sector stocks were decimated today after the oil price broke below the $US40 level and Woodside Petroleum (WPL) announced this morning that it had shelved its ambitions in relation to rival, Oil Search (OSH). OSH plummeted on its opening and closed the day down $1.23 (-16.4%) to $6.29. WPL also suffered and closed the day down $1.11 (-4%) to $26.89.
- The Major Resources continued to repeat its theme song - BHP lost 5.3% to $17.05, while RIO closed 4.3% lower at $42.40.
- While the resource sector was down Evolution Mining Limited (EVN) had a good day up 2.8% to $1.31, as did Northern Star Resources Ltd (NST) up 2.4% to $2.54
- There was a short glimmer of hope this morning in the banks, however, they unsurprisingly closed in the red sea. ANZ was the weakest link, down 1.7% to $26.82.
- With weaker oil prices, the transportation sector looks to benefit. Qantas (QAN) rallied 4.9% to $3.86 and Virgin Australia (VAH) up 1.1% to $0.45.
- Orica (ORI) slumped 3.7% lower to $15.02 after losing a Federal Court ruling in Melbourne and was found to have set up a $900m tax avoidance scheme to support the strength in its share price.
Best Sector – Industrials
Worst Sector – Energy
Winners
Spotless Group Holdings Ltd (SPO) +$0.08, or (+7.5%) to $1.145
Qantas Airways Ltd (QAN) +$0.18, or (+4.9%) to $3.86
Transpacific Industries Group (TPI) +$0.03, or (+4.5%) to $0.70
Mirvac Group (MGR) +$.05, or (+2.7%) to $1.92
Losers
Liquefied Natural Gas Ltd (LNG) -$0.13, or (-11.6%) to $0.995
Slater & Gordon Ltd (SGH) -$0.14, or (-12.6%) to $0.97
Santos Ltd (STO) -$0.50, or (-13.1%) to $3.31
Oil Search Ltd (OSH) -$1.23, or (-16.4%) to $6.29
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 08/12/2015. 4.30PM.
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