Afternoon Report Monday 1 December 2014
The ASX 200 started the first day of the month with carnage, ending on its day’s low of 5207, down 105 points with an intraday range of 109 points.
We are currently witnessing our anticipated pullback in the first quarter of 2015, sooner than anticipated, supported by the commodities sector, particularly with the energy names, such as BHP Billiton (BHP) down 5.3% at $29.27, Woodside Petroleum (WPL) -4.3% at $34.20 and Santos (STO) down 9.8% at $9.11.
Of the Iron Ore names, Fortescue Metals (FMG) shed the most, having fallen down 10.9% at $2.62
With oil declining to its lowest level in many years, Qantas (QAN) has benefited from this, up 4.7% today at $2.01 after touching intraday and +24 month highs of $2.135.
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