Afternoon Report Thursday 6 November 2014
As anticipated, the ASX200 ended lower, down 12 points, or -0.2% at 5,506 after trading as high as 5,548 in the morning.
The banking sector dragged the market lower, with ANZ Bank down 0.6% at $33.60 and Westpac (WBC) down 0.5% at 34.41. We anticipate further short term selling in this sector whilst the $A trades lower.
The Iron Ore sector also sold off with Fortescue Metals (FMG) being the weaker link, closing down 8.5% at $3.03.
As mentioned live to Subscribers, Shawn has reduced his overall equities exposure today, in line with this morning’s report.
Best Sector – TelecommunicationsWorst Sector –Financials
WinnersSuper Retail (SUL) +$0.85 (+12.1%), to $7.90Ten Network (TEN) +$0.23 (+7.0%), to $0.23Alumina (AWC) +$0.05 (+3.0%), to $1.71
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