Afternoon Report Monday 18 May 2015
• The market was summarily dumped today, falling on the back of BHP Billiton (BHP) - $2.36 (7.26%) $30.13, spinning off South 32 (S32) last @ $2.05, Macquarie Bank (MQG) going ex. dividend $2.00 but was - $3.04 (3.68), and the four major banks again being sold down. The ASX 200 Index was down 76 points (1.33%) to 5659.• Since its high in March, the Financial Index has fallen ~12% in a matter of weeks. With the weakness, our banks are starting to look good value. As per the recent Hickman Report, keep an eye open for trade alerts as Shawn looks to accumulate at least a third of his previous bank positons towards our targeted levels.• The four major banks finished down with ANZ Bank (ANZ) down 84c (2.54%) to $32.28, Commonwealth Bank (CBA) down $1.75 (2.06%) to $83.00, National Australia Bank (NAB) down 52c (1.51%) to $34.00 and Westpac Bank (WBC) down 83c (2.51%) to $32.22.• Although the ‘Telco’ sector closed in the red, it was the best of the bad lot! Vocus (VOC) ended 1.2% lower at $5.84 after the vote to takeover Amcom (AMM) had been adjourned. Shawn still holds interest in VOC.
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