Afternoon Report Friday 17 October 2014
The ASX 200 continued it's rally today, up 54 points intraday, only to close closing 17 points higher at 5272, making it up 1.6% for the week.
ANZ, BOQ & WBC have begun their run into November dividends. As I mentioned this morning, we are positive banks at current levels particularly the 3 of 4 banks ahead of dividend. This is also giving support to the market at the 5100/5150 level I have previously discussed as being excellent buying.
Miners underperformed the ASX 200 with RIO Tinto closing 52c lower at $59.37. This is consistent with our medium term bearish outlook.
Please watchout for the Hickman Report tomorrow for further detail and analysis.
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