Afternoon Report Monday 14 July 2014
The ASX 200 had a quiet session today, closing up only 25 points on volumes roughly 30% below daily averages.
The banking sector accounted for much of the day's strength with CBA closing up 0.6% at $81.71.
Consumer staples were also in the green, with Wesfarmers (WES) and Woolworths (WOW) closing firm, up 0.3% to $43.10 and 0.7% to $36.21 respectively.
Fortescue Metals (FMG) continued its recent weak run, closing down 2.3% to $4.24. See our Top 10 highlighting expected retracement levels in this name.
David Jones (DJS) resumed trading this afternoon after shareholders voted in favour of South Africas' Woolworths $2.2nln takeover of Australia's oldest department store. Shareholders now wait for the Federal Court to approve the scheme.
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