- The ASX 200 took a while to get going today with the predominance of sellers hitting the market early. However, the market rallied strongly after the GDP figures were released at 11.30am and the index finished about ten points off its high; and closed down only 8 points to 5,258.
- The banks in general were strong with Commonwealth Bank (CBA) and Westpac Bank (WBC) both up nicely- close to 1%. CBA closed up 77c to $81.76 and WBC was up 31c to $33.10.
- In the resources RIO Tinto (RIO) was unable to sustain yesterday’s strength and finished down 37c (0.8%) to $46.55. BHP Billiton (BHP) was quiet and finished square on the day at $18.75.
- Landmines continue to detonate before the end of the year, with Spotless Group (SPO) providing investors this morning with a disappointing trading update and profit warning. SPO closed 40% lower at $1.325.
Best Sector – Telcos
Worst Sector – Industrials
Winners
Dick Smith Holdings Ltd (DSH) +$0.065, or (+18.6%) to $0.415
Slater & Gordon Ltd (SGH) +$0.08, or (+6.8%) to $1.265
Seven West Media Ltd (SWM) +$0.04, or (+5.4%) to $0.78
Myer Holdings Ltd (MYR) +$0.06, or (+5.4%) to $1.18
Losers
Arrium Ltd (ARI) -$0.004, or (-5.1%) to $0.074
Metcash Ltd (MTS) -$0.12, or (-7.1%) to $1.56
Cardno Ltd (CDD) -$1.32, or (-43.7%) to $1.70
Spotless Group Holdings Ltd (SPO) -$0.875, or (-39.8%) to $1.325
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 01/12/2015. 4.14PM.
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