Afternoon Report Thursday 18 June 2015
• It certainly was a gloomy day in both Sydney and the Equity markets, the ASX 200 sold off throughout the session, ending 70 points lower (-1.3%) at 5,522.• Risk was definitely being taken off by investors as uncertainty remains in the Global market with regards to Greece, its creditors and the Eurozone.• The banking sector reversed most of its gains from the previous day. Both Commonwealth Bank (CBA and Westpac Bank (WBC) lost 1.3% at $83.20 and $32.48 respectively.• The Iron Ore sector continued to bleed, Fortescue Metals (FMG) lost 4.1% at $2.13, currently down 13.4% so far this week!• What Matters Tonight?
o Retail Sales in the UK will give some shed on its current economy.o US Consumer Price Index (CPI), analysts are anticipating a growth of 0.5% for the month. Investors see this data as a leading indicator to assist the US Federal Reserve with its interest rate decision each month.
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