Afternoon Report Wednesday 14 January 2015
• The ASX 200 closed has been battered today, with the ASX 200 down 51 points at 5353 – down 112 points for the week so far!• The Resources sector continues to be the main headline, with Copper, an indicator of economic health plunged as low as 8.3% at US$242.35/lbs. OZ Minerals (OZL) fell 11.7% at $3.25 while the diversified miners such as BHP Billiton (BHP) lost 2.8% at $27.20, also making new recent fresh lows at $27.095.• In the Iron Ore Sector, Fortescue Metals (FMG) was hit the most, down 8.2% at $5.41.• The World Bank also helped today’s weakness after releasing its Global Economic Prospects report noted the recovery has been weaker than expected in 2014. The main points for the domestic economy are:
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