Afternoon Report Thursday 29 May 2014
The ASX200 was quiet today again closing -8 points with May equity options expiry on the close.
The banking sector was again robust as investors continue to chase yield. CBA closed +11c to $82.05, whilst Telstra (TLS) also traded higher on the yield thematic closing +4c to $5.38
It feels as though the market is trading on global economies either flat lining or weakening with interest rates to follow a similar pattern.
The growth-orientated resource sector was battered with RIO Tinto (RIO) closing -$1.33 to $60.07 and BHP Billiton (BHP) -50c to $37.49.
Woolworths (WOW) went into trading halt this morning as it considers divesting its property assets. Last trade at $37.51.
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