Afternoon Report Tuesday 6 January 2015
• The ASX 200 fell 86 points, or down 1.6% at 5,364, following the US lead last night, with the Energy sector being the worst performer. Could the anticipated 10% correction have begun?• As anticipated, BHP Billiton closed $1.37, or 4.7% lower at $28.11, Woodside Petroleum ended the day down $1.87, or -4.9% at $36.46 and Santos (STO) down 71c, or -8.6% at $7.55. We remain not to be investors in this sector purely due to the companies being price takers rather than makers.• The banking sector also descended, with ANZ down 39c at $31.78 and National Australia Bank (NAB) down 27c at $33.34.• There were very few diamonds in the rough today, with Newcrest Mining (NCM) up 2.5% at $11.73 and Qantas (QAN) benefiting from the ever decreasing oil price, up 4.4% at $2.61.
Show more...
