Afternoon Report Friday 21 November 2014
It was a choppy session today, with the ASX200 ending the day down 12 pointsAT 5304 and down 2.8% for the week.
The Iron Ore sector had a better day today, with BHP Billiton closing 0.3% lower at $31.70 and RIO Tinto (RIO) unchanged from the previous day.
National Australia Bank (NAB) outperformed the “big 4” having closed up 17c, or 0.5% at $32.27, after its US subsidiary, Great Western Bancorp raised its full-year net profit to ~9 per cent.
Woolworths (WOW) reversed earlier losses, only to close 30c, or 1% higher at $31.60. We remain bearish at present.
Next week will be interesting, when one of Australia’s biggest float, Medibank begins trading on Tuesday 25 November 2014.
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