- The market today started weaker, rallied 70 points off its lows, to slowly step down from lunch time to finish the day disappointingly down 60 points to 5,038
- Origin Energy (ORG) was hit with a shortfall in its capital raising, with institutional investors, it was reported today. A large discount of 34% to its last trading price was not enough to get it over the line at $4.00, and 28 million shares were not taken up.
- The banking sector was one of the weakest sectors, with Australia New Zealand Bank (ANZ) down 2.2% to $26.93 and Westpac Bank (WBC) down also 2.1% to $29.75.
- The Utilities sector was the main culprit though, with AGL Energy (AGL) down 2.3% to $16.00 and APA Group (APA) down 2% today closing at $8.59.
- On a brighter note Shane Oliver from AMP Capital was quoted today as saying the market is cheap relative to Bonds and monetary conditions will remain easy. He also said he is expecting to see share markets higher as the cyclical bull market in shares resumes.
- Keep an eye open for our weekend report.
Best Sector – Consumer Disc.
Worst Sector – Utilities
Winners
UGL Ltd (UGL) +$0.11, or (+5.6%) to $2.07
Crown Resorts Ltd (CWN) +$0.37, or (+3.6%) to $10.57
Metcash Ltd (MTS) +$0.033, or (+3.0%) to $1.11
Fortescue Metals Group Ltd (FMG) +$0.05, or (+2.8%) to $1.84
Losers
AGL Energy Ltd (AGL) -$0.41, or (-2.5%) to $16.
Cochlear Ltd (COH) -$2.27, or (-2.7%) to $81.94
M2 Group Ltd (MTU) -$0.29, or (-3.0%) to $9.48
CSR Ltd (CSR) -$0.17, or (-5.8%) to $2.77
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 2/10/2015. 4.30PM.
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