Afternoon Report Monday 30 June 2014
The ASX 200 accelerated down sharply this morning and maintained its weak tone until the close, down 49 points for the day.
End of Financial Year shenanigans were not apparent in today's trading with the market trading at a very significant discount, led by the SPI.
It will be very interesting to see the performance of the banking sector tomorrow with the new financial year commencing: will buying activity be seen?
We remain short term bearish the market at present, with sell indicators seen last Friday in the SPI as discussed on the recent Hickman Report.
WinnersTen Network (TEN) +3.9% to $0.265Pacific Brands (PBG) +2.8% to $0.545Tatts Group (TTS) +1.9% to $3.27STW Communication (SGN) +1.8% to $1.435Henderson Group (HGG) +1.4% to $4.30
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