Afternoon Report Friday 5 June 2015
• The ASX 200 regained some composure in the last hour, bouncing off its lows of 5470 and ending only 6 points lower for the day at 5498. This was again led by the SPI futures market.• The last time the ASX 200 ended 4.8% lower in a week was back in May 2012 and took over 3 weeks before the weekly closed in positive territory.• The Banking Sector was again hit hard with National Australia Bank (NAB), the weakest link, down 47c (-1.5%) to $31.85. Australia New Zealand Bank (ANZ) fell 33c (-1.1%) to $31.17, Westpac (WBC) down 21c (-0.7%) to $31.03 and last but not least Commonwealth Bank (CBA) down 25c (-0.3%) $80.29. CBA is currently down for 3 consecution months, -17% from its highs.• Please note the weekend report will be released next Monday. Have a great long weekend!
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