Australian Investment Blog

• After a weak lead from overseas over the weekend, The ASX 200 recovered from its lows (29 points) before lunchtime, only to strengthen into the end of the day, finishing the day up 13 points (0.2%) to 5,610. This comes as speculation (or hope) that Greece and its creditors will settle with a last minute deal this week.• The Banking Sector was again the saviour and helped to push our market higher. The strongest performance was by Westpac Bank (WBC) up +32c (1%) to $33.12 and Commonwealth Bank (CBA) up +55c (0.7%) to $85.02.• The Telco’s were also strong with perhaps a hint of safety in mind with TPG Telecom. (TPG) up 33c (3.89%) to $9.07, Vocus (VOC) up 13c (2.28%) to $5.83.• This morning, Seek (SEK) announced a profit downgrade, where investors sold SEK aggressively, trading as low as $14.20 and ending the day down $2.03 (-12.3%) to $14.47. • Financial Services Group, IOOF Holdings (IFL) slumped 13.3% to $9.24 after reports of cases of misconduct by its staff led to investors anticipate broker downgrades in IFL in the next 24-48 hours.• Rubber manufacturer, Ansell (ANN) lost 6.1% to $24.17 after a recent broker downgrade. (ANN) has been in our radar for quite some time, where we now see some decent risk/reward. Subscribers, please see live trading alerts.