A well-deserved breather!
What Mattered Today
As expected, the week started off with risk being taken off the table, though we still experienced a bit of a yawn, with today’s session volume 29% below the 20-day average. The energy sector was the weakest link, following the ~4% drop in crude oil over the weekend and follow through selling -reducing our ORG exposure by 50% last week looks to have worked well so far!)
Metcash (MTS) outshone its peers in the consumer discretionary sector, despite providing its HY17 results below analyst consensus. MTS closed $0.085 higher (+4.03%) at $2.06.
M&A continues to be the flavour of the month, with Tabcorp(TAH) up 1.94% to $4.72 after rumours of English competitor, Ladbrokes has expressed interest in taking over Australia’s largest bookie. The wealth management / financials sector had also seen some interest, after reports of Perpetual (PPT) could merge with IOOF Holdings (IFL). IFL rallied 4.53% higher to $8.77.
On the market today, we had a range today of +/- 43 points, a high of 5,508, finishing on its low at 5,464, down 43 points or -0.63%.
ASX 200 Intra-Day Chart
ASX 200 Daily chart
Sectors
ASX 200 Movers
Select Economic Data- Stuff that really Matters in Green
What Matters Overseas
Futures MIXED…
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