Afternoon Report Wednesday 17 June 2015
• It was a soft start in the ASX200 this morning, however investors seemed to have shrugged off concerns with Greece’s debt and the potential for a Eurozone exit, as well as bets are being weighed on the FOMC decision on US interest rates tomorrow morning at 4am. The ASX 200 managed to rally 61 points higher (+1.1%) to 5595.• Woolworths (WOW) had an interesting session today after downgrading its earnings forecast, along with the CEO stepping down with jobs to go. WOW traded as much as 76c higher today, only to ease back and close 4c lower (-0.2%) at $26.80. We remain bearish WOW.• The ‘big 4’ banks contributed to most of the gains in the broader market. Commonwealth Bank (CBA) closed $1.88 (+2.3%) higher at $84.26 and ANZ closed $0.69 (+2.1%) at $32.86.• In the Telco sector, Vocus (VOC) lost 5.2% to $5.69 compared to its competitors, such as M2 Communications (MTU), up 2.4% at $10.89.
Show more...
