Afternoon Report Monday 12 May 2014
The ASX200 had an unusual open, only to normalise and close down 12 points.
It was a quiet session as expected, and will likely be tomorrow as investors wait for the budget delivery tomorrow evening.
The iron ore sector was mixed, with BHP -18c to $37.16, RIO+5c to $61.00 & FMG -9c to $4.72, as the price of the mineral continues to fall.
NAB was the underperformer amongst the big 4 banks, closing -0.6%, or -20c to $34.18. Statistically, the bank sector tends to be at its weakest in May.
WinnersSkilled Group (SKE) +7.0% to $2.89Sirius Resources (SIR) +6.9% to $3.10McMillan Shakespeare (MMS) +6.0% to $11.00G8 Education (GEM) +5.9% to $4.47Kathmandu (KMD) +4.0% to $3.63
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