Afternoon Report Friday 23 May 2014
The ASX200 attempted to hold above the 5500 level today, only to drift lower and close +13 points to 5,493.
The resource sector surprisingly closed lower, with BHP unch. to $37.65 and RIO -42c to $60.54. Note, FMG is still in our target sight of $4.20 area.
Commonwealth Bank (CBA) reached all-time highs today at $81.37 only to close +0.8% to $81.31.
IPOs were the spotlight today, with Spotless (SPO) opening up 9.4% to $1.75 vs. the issue price of $1.60, only to drift down to $1.715 (7.2%).
Today we bought a partial amount of M2 Communications (MTU) as mentioned live to our platinum members and as per this morning report. MTU closed -1.8% to $5.86.
WinnersLynas Corp (LYC) +8.3% to $0.13Qantas Airways (QAN) +4.7% to $1.33Treasury Wine (TWE) +4.7% to $5.17Alumina (AWC) +4.2% to $1.485Buru Energy (BRU) +3.4% to $1.215
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