Afternoon Report Thursday 24 July 2014
Today, we re-jigged Hickman's positions as per live alerts to subscribers – this was overall very much in line with our thoughts in today’s morning report. Please note, the option component is only for investors / traders with a full understanding of options.
The ASX 200 closed 11 points higher today on equities expiry, with a few big stocks positive e.g. RIO closing up 72c to $65.25, Orica (ORI) +63c to $22.87 & Magellan Financial (MFG) +32c to $12.34, but the broad market overall felt noticeably heavy.
The July HSBC Chinese preliminary PMI data was released at 1130am, the numbers implied a stronger Chinese economy, 52 vs. expectations of 51, the initial market rally was short lived followed by a gradual sideways drift towards the close of the session.
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