• The ASX200 rallied higher this morning as expected, as high as 5,526 with the global macroeconomic theme dominating our local market. The rally was contributed by reports of Greece submitted its proposal to the Eurogroup, meeting most of their demands. Risk was reduced by the afternoon and before the weekend however, as volatility seems to be the new ‘norm’ and the ASX 200 closed only 21 points higher (+0.4%) at 5492.
• Meanwhile, closer to home, the China A-share futures is currently trading ~9% higher this afternoon, as short selling is now limited and some liquidity is being provided by its Government.
• The materials sector continue to bounce back from its recent lows, Fortescue Metals (FMG) rallied 1.7% higher at $1.81.5 – We currently hold FMG via call options yesterday as mentioned live to Subscribers.
• The Banking sector is starting to concern us, Commonwealth Bank (CBA) closed 0.2% higher at $85.79, While National Australia Bank lost 0.2% at $33.07.
Best Sector – Materials
Worst Sector – Health Care
Winners
WorleyParsons Ltd (WOR) +$0.31, or (+3.2%) to $10.11
G8 Education Ltd (GEM) +$0.09, or (+3.1%) to $3.02
BHP Billiton Ltd (BHP) +$0.77, or (+3.0%) to $26.65
Crown Resorts Ltd (CWN) +$0.3, or (+2.4%) to $12.79
Losers
Newcrest Mining Ltd (NCM) -$0.3, or (-2.3%) to $12.60
Fairfax Media Ltd (FXJ) -$0.02, or (-2.4%) to $0.83
OZ Minerals Ltd (OZL) -$0.09, or (-2.4%) to $3.67
Nine Entertainment Co Holdings (NEC) -$0.04, or (-2.8%) to $1.395
All figures contained from sources believed to be accurate. MarketMatters does not make any representation of warranty as to the accuracy of the figures and disclaims any liability resulting from any inaccuracy. Prices as at 10/07/2015. 4.23PM.
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