Afternoon Report Friday 11 April 2014
The ASX 200 followed negative overnight leads from US markets overnight, closing down 53 points.
It was a sea of red on our screens today, with both the bank and resource sectors leading he market lower. ANZ closed -1%, NAB -0.7%, & RIO -1.3%.
What caught our attention was the uranium sector...again. Japan announced it will give official support for nuclear energy, swing Paladin Energy (PDN) close +4.7%.
As mentioned this morning, Coca-Cola Amatil (CCL) announced a profit warning in its first half reporting. We see no value in CCL, even as it trades below $10. There are better opportunities elsewhere.
WinnersEcho Group (EGP) +12.0% to $2.70Paladin Energy (PDN) +4.7% to $0.45Beadell Resources (BDR) +3.9% to $0.665Mount Gibson (MGX) +2.4% to $0.845Western Area (WSA) +2.2% to $3.76LosersCoca-Cola (CCL) -14.6% to $9.74Magellan Financial (MFG) -6.6% to $12.12Buru Energy (BRU) -6.3% to $1.195Bradken (BKN) -4.4% to $4.59Veda Group (VED) -4.3% to $2.22
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