• The ASX200 repeated much of last Friday’s session, trading near its lows early in the session, as low as 5,451, only to rally by lunch as high as 5,543 and drift back below the red sea by 19 points at 5,473. It seems that risk will remain off the table until Greece responds to the Eurogroup’s demands no later than Wednesday.
• As expected, volatility remains and the trading range of the ASX 200 were close to 100. The banking sector led the choppy session today, as Commonwealth Bank (CBA) closed 61c lower at $85.18 after trading as low as $85.00 and as high as $86.83 today.
• Although Iron Ore is currently trading slightly higher in Asia, Fortescue (FMG) lost 5% at $1.725 and South32 (S32) down 4.2% at $1.705.
• China also contributed in today’s session, reporting its trade balance at US$46.54B, ~18% lower than analysts’ expectations. The China A-share index resumed its rally however, with ~26% of its ~1300 stocks on trading halt resuming trade today. The China A-Share futures index are currently trading 2.2% higher this afternoon and with the Peoples’ Bank of China (PBoC) providing liquidity to stabilise the market, a restore is in order and the market is ok for now.
Best Sector – Health Care
Worst Sector – Energy
Winners
Cochlear Ltd (COH) +$5.05, or (+6.4%) to $84.57
Kathmandu Holdings Ltd (KMD) +$0.055, or (+3.8%) to $1.485
Qantas Airways Ltd (QAN) +$0.12, or (+3.6%) to $3.45
OZ Minerals Ltd (OZL) +$0.12, or (+3.3%) to $3.78
Losers
Cardno Ltd (CDD) -$0.11, or (-3.6%) to $2.96
South32 Ltd (S32) -$0.075, or (-4.2%) to $1.705
Fortescue Metals Group Ltd (FMG) -$0.09, or (-5.0%) to $1.725
Bradken Ltd (BKN) -$0.095, or (-7.9%) to $1.115
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 13/07/2015. 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, MYR, SEK & VOC.
