• It felt like a sombre and quiet day in Australia, however the rally unnoticeably continued in the ASX 200 today, trading as high as 5,650 in the morning and ending its session up 47 points (+0.7%) at 5,624.
• The Resource sector was seen as the strongest link in the market today. BHP Billiton (BHP) roared 2.1% higher at $25.89 and Fortescue Metals (FMG), a stock we currently own via call options, rallied 7.4% at $1.88.
• ‘Black Gold’, Oil Sector also experienced a positive day, Woodside Petroleum (WPL) closed 1.5% higher at $34.95.
• Financial Services, AMP Group closed 2% higher at $6.52 after it followed some of the recent banks’ suit and stated it won’t accept new investor property loans as well as raise its interest rates on its investor property loan holders.
Best Sector – Materials
Worst Sector – Utilities
Winners
Fortescue Metals Group Ltd (FMG) +$0.13, or (+7.4%) to $1.88
Metcash Ltd (MTS) +$0.06, or (+5.7%) to $1.11
Retail Food Group Ltd (RFG) +$0.23, or (+4.6%) to $5.22
Ainsworth Game Technology Ltd (AGI) +$0.11, or (+4.2%) to $2.7
Losers
Healthscope Ltd (HSO) -$0.06, or (-2.2%) to $2.68
Genworth Mortgage Insurance Au (GMA) -$0.08, or (-2.2%) to $3.49
Origin Energy Ltd (ORG) -$0.29, or (-2.5%) to $11.16
Nine Entertainment Co Holdings (NEC) -$0.065, or (-4.2%) to $1.48
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 29/07/2015. 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, BOQ, CBA, CGF, FMG, MGR, NST, RRL, SEK, VOC & WPL.
