Afternoon Report Tuesday 27 January 2015
• The ASX 200 extended its rally to its fourth straight day. It ended 52 points higher and was clearly a “dividend frenzy buying” as anticipated, the yield players such as Commonwealth Bank (CBA) ended up 1.6% at $87.63 after hitting an all-time high of $87.65. Telstra (TLS) also rallied, ending the day 1.6% higher at $6.444, hitting a +14-year high.• In the iron ore space, Fortescue Metals (FMG) continued its descent and ended its day down 2.4% at $2.08, as it seems investors switched some of their positions into the bigger players, such as RIO Tinto (RIO) down 0.1% at $56.80 after trading as low as $55.21 this morning.• The gold sector closed weak, Newcrest Mining (NCM) ended down 1.7% at $13.56 and Regis Resources (RRL) unchanged at $2.00. • The Energy Sector continues to underperform the broader market, with Oil Search (OSH) ending its day down 3.4% at $7.66 and Santos (STO) down 3.1% at $7.56.• ResMed (RMD) extended its gain today, up 7.4% at $8.38 today and up 13.6% since announcing a better than expected 2Q2015 result.
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