Afternoon Report Monday 10 November 2014
The ASX 200 closed 25 points lower at 5,524, after trading as low as -48 points, testing the 5,500 level.
The banking sector was the weakest link today, with ANZ closed 36c lower at $32.52 and Westpac (WBC) ending $1.37 lower at $33.47 (traded ex-dividend for the amount of 92c a share).
The rare earths sector rallied today, Paladin (PDN) closing 12.1% higher at 37c after uranium priced ascended after reports of Japan approving the restart of its Sendai nuclear plant.
As anticipated, the gold sector also outperformed the broader market, with Newcrest Mining (NCM) closed 5.5% higher at $9.27 and Regis Resources (RRL) up 7% at $1.375.
Australia’s Asian counterpart, Hong Kong, rallied from their start of session, with the Hang Seng futures currently trading 455 points, or +1.9% higher at 23,960 after reports of the much anticipated plan to connect Hong Kong and the Shanghai stock exchanges due to go live on 17 November.
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