Afternoon Report Wednesday 27 August 2014
The ASX 200 had a choppy session, closing up 14 points at 5,651.
Value traded in the ASX 200 was 27% higher than the average at $4.79B.
Five of the nine companies mentioned in the morning report traded higher after reporting their earnings, with both Boral (BLD) and WorleyParsons (WOR) closing above 4%.
The Telecommunication sector was the weakest link in the ASX200, due to Telstra (TLS) trading ex-dividend today.
Steadfast Group (SDF) closed 14.8% higher after releasing a better than expected earnings result. We remain bullish with stops under $1.48.
With global interest rates now likely to remain at low levels, investors continue to chase for yield. Refer to yesterday morning’s report.
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