Australian Investment Blog

Afternoon Report 13/06/2014

Afternoon Report Friday 13 June 2014

The ASX 200 continued its weakness, closing down 24 points today.

We are patient on our buy triggers at present, e.g. Flight Centre (FLT) and Fairfax (FXJ) as we currently still hold MTU, OZL and SUN as our current core holdings.

OZ Minerals (OZL) closed down 2.2% to $4.05, after reaching session lows, below $4 today, to $3.965 however, stop loss trigger is not on the agenda at present.

The gold and oil sector benefited from the tensions in Iraq, with Newcrest Mining (NCM) closing up 1.8% to $9.88, OceanaGold (OGC) up 8.0% to $3.10 and Woodside Petroleum (WPL) closing up 1.9% to $42.79.

Coca Cola (CCL) closed down 0.4% to $9.10 after a block trade of +30M shares were traded at $9.02 – it is thought large fund, Capital Group have exited their stake.

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