Afternoon Report Wednesday 24 June 2015
• The ASX200 followed suit with its US counterpart, ending only 2 points higher at 5686.• The banking sector remains well bid towards the final days of the financial year, with the bank index up 2.5% so far this week. Commonwealth Bank (CBA) up +43c (0.5%) to $87.19 after a high of $87.59 whilst Australia New Zealand Bank (ANZ) finished the day the strongest up +21c (0.63%) to $33.64.• The Telco sector performed well with M2 Group (MTU) up +9c (0.81%) to $11.18 and Telstra (TLS) up +6c (0.96%) to $6.34.• Flight Centre took a dive as expected, finishing down $3.30 (-8.8%) to $34.21. (see this morning report).• Despite upgrading its profit guidance and rejecting claims of its accounting process, Slater & Gordon (SGH) lost 5.6% at $6.13. Technically, we are not buyers of SGH in this area.• The Gold sector was not seen above ground today, Newcrest (NCM) ended 3.3% lower at $13.20.
Show more...
