Afternoon Report Friday 26 June 2015
• The ASX 200 was hit by heavy selling pressure from the opening bell, led by the SPI futures. Within the first 45 minutes, it had already lost 117 points. Buying stemmed the flow, but it continued to range trade between 5555 and 5548. The broader market finished the day down 88 points (-1.6%) to 5,544.• There were heavy losses in most sectors, with Utilities fairing the worse, down 4% to 6,508. APA Group (APA) was the heaviest casualty down 51c (5.7%) to $8.38 and AGL Energy (AGL) down 49c (-3%) to $15.82.• The Energy Sector was close behind the Utilities performance, with Worley Parsons (WOR) down -7.2% to $10.10 and Origin Energy (ORG) down -6.5% to $11.70.• For a complete change there was a glimmer of light in the Consumer Staples, after it was rumoured that Woolworths (WOW) looked to be a perfect candidate for a buyout by Private Equity firm KKR. WOW closed up $1.01 (+3.8%) to $27.39• Please watch out for the weekend report.
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