Afternoon Report Monday 9 February 2015
• The ASX 200 closed 5 points lower at 5,815, unable to make a 13 consecutive day in positive territory.• The banking sector closed mixed, with Commonwealth Bank (CBA) closed down 5c, or -0.1% at %92.93 while Westpac (WBC) closed 9c higher, or +0.2% at $37.05.• The Iron Ore sector underperformed the broader market as expected, with BHP Billiton (BHP) closing down 32c, or -1% at $31.223 and Fortescue Metals (FMG) down 4c, or -1.6% at $2.50. This sector remains to be a trading vehicle rather than investment, where we remain long term bearish this sector.• Ansell (ANN) outperformed, closing $1.24 higher, or +5.4% at 24.30 after lifting its first half profit by 34%. A stock we unfortunately exited at a profit too early.• Fairfax Media (FXJ) sold off, down 8.5c, or -8.9% at $0.875 after Gina Rhinehart sold her stake overnight at $0.8675 a share.
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