Afternoon Report Wednesday 30 April 2014
The ASX200 again saw volatility today, trading in a 44pt range only to close +2 points.
Woolworths (WOW) closed -1.9% at $37.32 after reporting 3Q earnings this morning. Share price weakness can be attributed to reported sales of +5.3% coming in slightly below analysts' estimates.
Telstra (TLS) closed well for the month, up 1.2% today and up 2.8% for April, as investors search for yield with expectations of an interest rate rise sometime this year or early next year which might affect yields in the bank sector.
OceanaGold (OGC) closed up 9.8% at $2.70, surprising investors with Q1 earnings of $101M and record gold production of 30,480 ounces from Didipio.
We remain bearish at these current levels and will evaluate during the days and week.
Show more...
You need to be a member to view this article
REGISTER FOR FREE INSTANT ACCESS
Already a member? Login Here
