Afternoon Report Friday 8 August 2014
The ASX 200 sold off aggressively today down 74 points to 5,435, after US President, Barack Obama authorised targeted airstrikes in Iraq in retaliation to the Sunnni militants.
The sea of red seen today in the market could give us the opportunity to buy into this weakness. – Watch out for the Hickman Report tomorrow.
Tabcorp Holdings (TAH) closing down 3c to $3.59 after reporting in line with consensus. We remain bearish in TAH targeting the $2.50 area minimum.
REA Group (REA) closed down $4.05 after reporting a profit in its earning. We remain neutral REA. Technically, if REA breaks below $42.50, the buy target area is around $36.00.
China trade data released better than expected, this however, was not enough to break back into positive territory after comments made from US President, Barack Obama.
Show more...
