Afternoon Report Thursday 8 January 2015
• It was a choppy session with the ASX 200 today, closing 28 points higher at 5381 with a range of 57 points; however it was still not able to recoup the losses from the past 2 days.• The close into positive territory was supported by the “big 4” banks with National Australia Bank (NAB) up 30c, or +0.9% at $33.72 and ANZ up 19c, or +0.6% at $31.91.• The Insurance sector had a good day, with QBE up 2.1% at $11.15 and IAG up 1.5% at $6.30.• The Iron Ore sector closed mixed, as it seems investors were switching out of Fortescue Metals (FMG) down 7c, or -2.6% at $2.67 while RIO Tinto (RIO) closed up 136c, or +2.4% at $58.65.• The energy sector continued its drag, with Santos (STO) down 2.0% at $7.30 and Oil Search (OSH) down 1.5% at $7.09.
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