Afternoon Report Wednesday 9 July 2014
Following today's portfolio reweighting of Hickman's positions as per live alerts to subscribers, please follow the morning commentaries regarding stop loss orders, profit targets and position management.
The ASX 200 followed the weak lead from the US overnight, closing down 58 points to 5452.
The financial sector was the major contributor in today’s weakness, with ANZ closing down 1.2% to $33.18 and Westpac (WBC) -1.1% to $33.85.
Alumina Ltd (AWC) closed -3.1% to $1.395 today, after Alcoa’s 2Q 2014 reporting, showing a net loss of ~$9m for the quarter.
Navitas (NVT) was hit hard, closing down -31% to $4.86 after Macquarie University ended an 18 year contract with the education services provider.
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