Afternoon Report Thursday 12 June 2014
The ASX 200 continued recent weakness today, closing down -25 points. Investors appeared to be taking money off the table across the board with both the heavyweight banks and resources trading lower. BHP closed -0.6% at $35.71 and NAB -0.9% at $33.33.
Today saw May unemployment reported at 5.8%, in line with analysts' expectations, with the participation rate printed at 64.6%, slightly down on last month.
The iron ore sector took the beating today with Fortescue Mining (FMG) closing down -4.6% to $4.33 and Mount Gibson (MGX) -5.3% to $0.71.
Telstra (TLS) was also weak, closing down -0.8% to $5.21.
Flight Centre (FLT) closing down $1.67 to $44.76. The stock has been sold down $5.72, or -11.3% in 7 trading days!
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