Afternoon Report Monday 29 June 2015
• A blood bath comes to mind when talking about the ASX 200 today. Our market was one of the first to react to the Greek tragedy of the weekend and we wait to see what the European and U S markets can do. The benchmark finished the day down 123 points (-2.2%) to 5,422.• There were also heavy losses in Asian market. Japan is currently down 2.8% and Hong Kong down 2.7%, while Shanghai down only 0.6%.• The Consumer Staples continues its downtrend, with Slater & Gordon (SGH) - yes, in with the likes of Woolworths (WOW) and Metcash (MTS), was down a massive 25% to $3.78, whilst Harvey Norman (HVN) ended 4.4% to $4.59. Myer (MYR) continued to suffer - down 4.3% to $1.21.• As one would imagine, the banks were hit really hard. Commonwealth Bank (CBA) lost $1.96 (-2.3%) to $84.69. Note, CBA is now close to yielding 10% on a grossed up basis for the next three dividends. Suncorp Group (SUN) was down 27c (-2.0%) to $13.33 (which is yielding 10.5% gross for 2016 dividends)
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