Afternoon Report Wednesday 21 January 2015
Please view our Market Matters video update 21st January 2015 - Newcrest Mining (NCM) & Gold and Correction?
• The ASX 200 rallied today, closing on its day high, up 86 points at 5393 as investors anticipate further aggressive stimulus in Europe by the European Central Bank this week, along with comments from an economist seeing a likely rate cut in Australia next month.• Further to Central Banks, Bank of Japan (BOJ) stated it maintains its ‘super stimulus’ and expanded its loan program – widely expected.• The ‘safe haven’ gold assets outperformed the broader market, with Newcrest Mining (NCM) up 4.1% at $13.74 as uncertainty with global economic health grows.• In the banking sector, Commonwealth Bank (CBA) closed 1.4% higher at $84.67 and National Australia Bank (NAB) up 1.6% at $34.08.• Telstra (TLS) continues to hover near multi-year highs, up 1.3% at $6.27. The search for yield continues!
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