- The ASX 200 had a great start, opening near its day’s high, only to fade gradually and lose 110 points (-2.1%) to 5,096 – a move that seems to be the new norm!
- Macroeconomic Highlights from today –
- The RBA voted well with consensus, leaving cash rates unchanged at 2% for September.
- China Manufacturing PMI in August in line with consensus and weaker from the previous month, at 49.7.
- The gaming sector, particular those exposed in Macau were weak as Official Beareau Stats reported a 26.4% dive in its 2Q GDP. Crown Resorts (CWN) lost 3.3% to $11.06.
- In the banking sector, the regionals underperformed, Bank of Queensland (BOQ) lost 3.1% at $12.28 and Bendigo & Adelaide Bank (BEN) down 4.2% at $10.51.
- Fortescue Metals (FMG) was the major underperformer in the Iron Ore sector, down 6% at $1.795.
- In the consumer discretionary sector, Myer (MYR) is currently in a trading halt, following its announcement of a profit 21% below last year’s and is currently underway for a share placement at 94c a share (28.7% below previous trade at $1.21).
- Qantas (QAN) was well bought today, following a broker report of a potential share buy-back of up to $1.5b over the next two years. QAN closed 3.3% higher $3.47.
Best Sector – Industrials
Worst Sector – Financials
Winners
Qantas Airways Ltd (QAN) +$0.11, or (+3.3%) to $3.47
Seven Group Holdings Ltd (SVW) +$0.11, or (+2.2%) to $5.07
Regis Resources Ltd (RRL) +$0.025, or (+1.7%) to $1.48
Sydney Airport (SYD) +$0.09, or (+1.6%) to $5.84
Losers
Fortescue Metals Group Ltd (FMG) -$0.115, or (-6.0%) to $1.795
Santos Ltd (STO) -$0.34, or (-6.6%) to $4.79
Transfield Services Ltd (TSE) -$0.085, or (-7.3%) to $1.085
OZ Minerals Ltd (OZL) -$0.28, or (-7.4%) to $3.48
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 01/09/2015. 4.23PM.
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