Afternoon Report Friday 3 October 2014
The ASX 200 broke its recent losing streak today, closing 21 points higher at 5,318, mostly led by the banking sector, with ANZ closing 42 c higher at $31.64 and Bank of Queensland (BOQ) closing 21c higher at $12.12.
BHP Billiton recovered little of its loss today, closing 20c lower at $33.45 (after trading at its lows of $33.10). This was after the Standard & Poor’s statement that its ratings are unchanged after reviewing its assumptions for benchmark iron ore prices.
The Information Technology sector was the strongest link today, with Carsales.com (CRZ) closing 23c higher at $9.88. We still believe CRZ will continue its current correction back to the $9 level.
Best Sector – Information TechnologyWorst Sector – Materials
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