Afternoon Report Monday 2 February 2015
• The ASX 200 opened near its lows this morning, only to rally as much as 48 points before ending the day up 37 points, or +0.7% at 5,625.• The strength was again seen in both the banking and energy sector, Commonwealth Bank (CBA) closed 35c higher at $89.68, BHP Billiton (BHP) up 34c at $29.60 and Oil Search (OSH) up 21c at $7.98.• The retail sector had a lacklustre day, particularly Kathmandu (KMD) down 51.5c, or -27.5% at $1.355 after announcing a profit warning to investors today. JB Hi-Fi (JBH) however, closed 30c higher, or +1.8% at $17.05, despite announcing a minor profit slide in its half yearly reports. Could the retail sector turn around anytime soon?
• All eyes will be on tomorrow's RBA interest rate meeting, with economists expecting a rate cut being likely.
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