Afternoon Report Tuesday 24 June 2014
The ASX 200 closed 20 points weaker, with the banking sector contributing to most of the weakness e.g. ANZ closing down 1.1% to $33.62.
The retail sector continues to have a bad run, with Kathmandu (KMD) downgrading its FY14 forecast, closing down 12.1% to $2.92.
Metcash (MTS) also closed weaker, down 3.5% to $2.75 after reporting an earnings decline of 17.9% in its 2014 FY14 results.
RIO Tinto (RIO) closed 0.8% weaker to $59.53 after reports of the Mongolian Government handing a $130m bill of unpaid taxes from its $US6.2 billion copper and gold mine, Oyu Tolgoi.
WinnersTen Network (TEN) +6.0% to $0.265Lynas Corp (LYC) +4.0% to $0.13David Jones (DJS) +4.0% to $3.94Northern Star (NST) +2.8% to $1.295NRW Holdings (NWH) +2.2% to $0.93
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