Afternoon Report Friday 22 May 2015
• It was a sombre session to end a volatile week. The ASX 200 closed only 2 points higher at 5665 after trading as high as 5692 early this morning.• The big 4 banks were a drag today, ANZ and CBA closed 0.5% lower at $32.05 and $83.11 respectively.• The gold sector continued its rally; Newcrest closed 2.3% higher at $14.31. Has the lustre returned to gold?• High end retailer, Oroton Group (ORL) opened its bags with a profit downgrade to its investors, sliding 13.3% lower to $2.22. ORL reached its technical support today around the $2.00 area and see some consolidation around here.• Cardno Ltd (CDD) lifted 19.1% today to $2.81 after an undisclosed buyer purchased a ~10% overnight. We have no interest in this stock.• The European Equity markets are expected to open higher in their session tonight, after reports of Greece being close to sealing deal with creditors.• Please watch out for the Hickman Report tomorrow.
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