• An early rally in the ASX 200 was witnessed from the morning trading as high as 5727, as traders were betting for the RBA to announce an interest rate cut this afternoon at 2.30pm. The hopes turned sharply when the interest rate was left at 2%, and traders closed their ‘short’ bets, losing ~20 points in 10 minutes. The ASX 200 closed 18 points (+0.3%) higher at 5,698.
• The Australian Dollar rallied 1c higher at the same time, currently trading at US73.74c.
• CSL Limited won the race to hit the golden century this year, ending its day 2% higher at $100.77, beating Cochlear (COH) and Commonwealth Bank (CBA) in the race.
• The Banking sector closed mixed; however investors continue to allocate funds to higher yielding stocks, compared to the current low yielding Australian government bonds. Commonwealth Bank (CBA) ended 0.8% higher at $88.03.
• June Retail Sales beat analyst expectations, sending Myer (MYR) up 3.2% at $1.30 and Harvey Norman (HVN) up 6.1% at $4.72.
Best Sector – Utilities
Worst Sector –Energy
Winners
Harvey Norman Holdings Ltd (HVN) +$0.27, or (+6.1%) to $4.72
Abacus Property Group (ABP) +$0.17, or (+5.5%) to $3.28
Qantas Airways Ltd (QAN) +$0.14, or (+3.8%) to $3.85
Domino's Pizza Enterprises Ltd (DMP) +$1.22, or (+3.0%) to $41.42
Losers
Flight Centre Travel Group Ltd (FLT) -$1.34, or (-3.7%) to $34.40
UGL Ltd (UGL) -$0.07, or (-3.8%) to $1.75
Bradken Ltd (BKN) -$0.045, or (-4.0%) to $1.085
Fortescue Metals Group Ltd (FMG) -$0.085, or (-4.6%) to $1.775
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 04/08/2015. 4.30PM.
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The author holds an interest in the financial products of ANN, CBA, CGF, FMG, NST, RRL, SEK, VOC & WPL.
