Afternoon Report Wednesday 18 June 2014
The ASX 200 closed down -18 points today, led by the banking sector, with Westpac (WBC) closing down -0.9% to $33.84 and ANZ down -$33.74.
The iron ore sector trained well with Rio Tinto (RIO) closing up +0.8% to $57.90 and Fortescue Mining (FMG) +2.0% to $4.02.
Woodside Petroleum (WPL) resumed trading after Royal Dutch Shell's sell down, closing down -4.6% to $40.90. This stock remains bullish at present, with stops under $39.50.
Aquila Resources (AQA) closed 7% higher at $3.35 after rejecting Mineral Resources' (MIN) all-scrip takeover offer in favour of the Baosteel/Aurizon cash bid.
The Federal Reserve FOMC meets tomorrow at 4AM AEST, where analysts' expect rates to remain at its record low of 0.25%.
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