Afternoon Report Monday 1 September 2014
The ASX 200 closed marginally higher, closing up 4 points at 5,630, with value traded today at only $2.03B - ~21% lower than the daily average.
The energy sector was the strongest in the market today, with WorleyParsons (WOR) bouncing back from its recent 2-day sell-off post reporting, closing up 22c at $16.66. We remain bearish mid-long term and see better risk / reward elsewhere.
Harvey Norman (HVN) continues its recent strength post earnings season, closing up 13c at $3.68. Technically, Harvey Norman is showing life and is clearly aided by the increased valuation of its property assets. See the recent morning report.
Best Sector – EnergyWorst Sector – Information Technology
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