Afternoon Report Tuesday 16 December 2014
• It was a choppy session for the ASX 200, ending the day with a sea of red, down 33 points at 5152, after trading as high as 5190.• The Banking sector closed slightly mixed, with Westpac (WBC) down 0.8% at $31.57, while NAB closed 0.1% higher at $31.50. Macquarie Group (MQG) disappointed, down $1.17, or -2.1% at $56.41.• As anticipated, the commodities sector dragged the ASX200 the most, with BHP Billiton (BHP) down 3.2% at $27.42 and Fortescue Metals (FMG) down 3.6% at $2.39, we remain long-term bearish BHP.• The Gold sector eased from its recent strength, with Newcrest (NCM) down 2.7% at $10.38 and Regis Resources (RRL) down 3.4% at $1.565.• Myer (MYR) continues to be battered, down 3.3% at $1.305. -19.4% for the month and -46.1% for the current quarter!
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