The ASX 200 had a quiet, but the usual roller coaster ride today finishing the day down 10 points (-0.2%) at 5,030, after trading as low as 4,973.
- China reopened today after a two day holiday last week. Its market was quiet today after earlier news coming out this morning that once again brokers would be in the market again trying to stabilise any selling. However currently the market is down 1.7% to 3,106.
- BHP sold off 2% at $24.19 as Iron Ore resumed trading, currently 1.4% lower, while Fortescue (FMG) closed 3.5% higher at $1.925.
- Oil weakened today in the Asian session with Venezuela asking OPEC for a summit to stabilise prices given the global glut. Further, it was announced locally that six liquefied natural gas projects under construction at a cost of $200 billion will struggle to break even because of the oil price slump. Liquefied Natural (LNG) was down 23c (9.2%) to $2.27 today.
Best Sector – IT
Worst Sector – Energy
Winners
Northern Star Resources Ltd (NST) +$0.14, or (+7.2%) to $2.09
TPG Telecom Ltd (TPM) +$0.43, or (+4.9%) to $9.18
Fortescue Metals Group Ltd (FMG) +$0.065, or (+3.5%) to $1.925
Newcrest Mining Ltd (NCM) +$0.38, or (+3.5%) to $11.38
Losers
Cabcharge Australia Ltd (CAB) -$0.12, or (-4.1%) to $2.81
Santos Ltd (STO) -$0.19, or (-4.3%) to $4.19
Beach Energy Ltd (BPT) -$0.035, or (-5.7%) to $0.58
Liquefied Natural Gas Ltd (LNG) -$0.23, or (-9.2%) to $2.27
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 07/09/2015. 4.30PM.
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.
The author holds an interest in the financial products of ANN, ANZ, BEN, CBA, SEK, VOC and WPL.
