Afternoon Report Monday 25 August 2014
The ASX 200 closed 11 points lower at 5,635, the weakest link against its Asian peers.
As discussed this morning and on Friday, funds have been flowing out of the Iron Ore stocks, with BHP closing down 55c to $37.25 and Fortescue Metals (FMG) down 8c at $4.34 and RIO Tinto (RIO) down 86c at $64.54. We remain very nervous this sector at best.
As recommended this morning, some of the funds seem to have been moving to the energy sector, with Santos (STO) closing up 3c at $15.19, Origin (ORG) up 49cc at $15.33 and Woodside Petroleum (WPL) closing up 10c at $43.87. See this morning report and Friday’s morning report.
The banking sector weakened from late morning, with ANZ closing down 25c at $33.22 and Westpac (WBC) down 9c at $34.80.
Show more...
You need to be a member to view this article
REGISTER FOR FREE INSTANT ACCESS
Already a member? Login Here
