Afternoon Report Friday 15 August 2014
The ASX 200 closed 18 points higher to 5,567, led by the resources sector.
BHP Billiton (BHP) closed $0.89 higher to $39.05 after announcing its plans to demerge its portfolio.
ANZ was the weakest link out of the big four banks closing down 35c to $32.39 after releasing its disappointing third quarter 2014 results. The remaining three, such as CBA benefited from this, closing up 18c to $81.20 as investors and traders alike, look to have switched out of ANZ into the other big four banks. We remain long term investors of CBA.
James Hardie (JHX) closed down $1.01 to $12.99 after warning investors with its first quarter profit down 80%. Technically we are buyers of JHX at the $12.20 area.
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