Afternoon Report Friday 30 May 2014
The ASX200 closed 27 points lower and was really quiet despite options expiry overnight and MSCI index reweighting today.
The banking sector gave in and was weak, with ANZ closing -0.7% to $33.49 and CBA -0.6% to $81.59 after reaching its all-time highs of $82.20 earlier this week.
The resource sector also closed weak with BHP -1.3% to $37.01, RIO -1.3% to $59.30 and FMG -2.9% to $4.41 (getting closer to our $4.16 target, though it may be showing signs of further retracement).
WinnersResolute Mining (RSG) +3.5% to $0.595Sirius Resources (SIR) +2.6% to $3.18Beadell Resources (BDR) +2.3% to $0.66Mirvac Group (MGR) +2.3% to $1.81Australand Property (ALZ) +2.1% to $4.29
LosersLynas Corp (LYC) -17.7% to $0.14Atlas Iron (AGO) -4.9% to $0.685Mineral Resources (MIN) -4.5% to $10.21Arrium Ltd (ARI) -4.2% to $0.905Bluescope Steel (BSL) -4.0% to $5.84
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