- A soft start was experienced in the ASX200 this morning, trading as low as 5082, only to rally and recover from midday to end the day 15 points higher to 5133.
- The rally continued to stem from the financials, with the big four banks adding ~11 points to the broader market. Commonwealth Bank (CBA) closed 1% higher TO $77.84, UP 4.1% for the past 2 days.
- With Iron Ore slumping overnight, it was no surprise to see this flow through to its related stocks today. BHP Billiton (BHP) closed 2.8% lower to $19.81, RIO down 2.7% to $46.80 and Fortescue Metals (FMG) down 3.2% to $2.15.
- Explosives Company, Orica (ORI) rallied 2.3% higher to $15.97, after investors embraced its full year results.
Best Sector – Financials
Worst Sector – Materials
Winners
Cabcharge Australia Ltd (CAB) +$0.17, or (+6.2%) to $2.90
Mayne Pharma Group Ltd (MYX) +$0.065, or (+5.8%) to $1.185
Slater & Gordon Ltd (SGH) +$0.17, or (+5.7%) to $3.17
Syrah Resources Ltd (SYR) +$0.17, or (+5.3%) to $3.40
Losers
Ten Network Holdings Ltd (TEN) -$0.01, or (-5.9%) to $0.16
Evolution Mining Ltd (EVN) -$0.09, or (-7.1%) to $1.185
Paladin Energy Ltd (PDN) -$0.02, or (-7.7%) to $0.24
Northern Star Resources Ltd (NST) -$0.21, or (-7.9%) to $2.46
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