Australian Investment Blog

Afternoon Report 01/08/2014

Afternoon Report 1 August 2014

The ASX 200 followed the US and European indices and sold off aggressively, closing down 78 points.

It was a sea of red today, with both the financial and resource sectors a major contributor to the sell off. NAB closed down -39c to $34.93 and RIO closing down 98c to $65.40.

ResMed (RMD) closed down 5.1% to $5.10 after reporting its quarterly and FY 2014 profit, slightly missing some analyst expectations. A possible retracement to the $4.40 region still remains in the medium term.

Woodside Petroleum (WPL) resumed its recent selloff, closing down 60c to $41.92 after investors rejected the share buyback proposal from Royal Dutch Shell.

Best Sector – UtilitiesWorst Sector – Healthcare

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