Afternoon Report Thursday 18 September 2014
It was a choppy session today with theASX200 closing 8 points higher to 5,416, after trading 34 points lower intraday. We now see a consolidation is due for the next 3 days, prior to further risk on the downside.
The Banking sector closed mixed, with Commonwealth Bank (CBA) closing 23c higher at $77.58 and ANZ down 1c at $31.42.
AGL Energy (AGK) closed 18c weaker at $13.64 after completing its Retail entitlement offer, of which 70% was taken up (~$499M) with the remaining shortfall of ~$216M being offered to institutional investors.
AWE Ltd closed 23c higher at $1.91 after confirming it had a significant gas discovery in Western Australia.
Arrium (ARI) closed down 16c at 40c after touching its all-time lows for 39c after its recent $465M institutional capital raising.
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