- The Australian market started the New Year off to a solid start early on, rallying as high as 5,331, but faded prior to the Chinese PMI figures and went fell further after they were released worse than expected. The ASX 200 finished the day down 25 points (-0.5%) to 5,270.
- The Chinese PMI figures released at 12:45pm were expected to be around 48.9, but came in at just 48.2 (further contraction). This sent the A$ down and the resources and banks all proceeded to fall.
- BHP Billiton (BHP) was trading on its high for the day ($18.19), just prior to the release of the data, but closed the day down just 6c to $17.80
- This year will continue to have some landmines detonated and some diamonds found in the rough.
- The Energy sector had a good start for the year, particularly with Woodside Petroleum (WPL) following its physical commodity rally, as well as its announcement of intersecting a gas column with its joint venture in Myanmar. WPL closed 3% higher at $29.58, while Santos (STO) closed 4.1% higher at $3.83.
- Investors now wait for a debt announcement in Dick Smith Holdings (DSH) after going into trading halt this morning. The last trade for DSH was at $0.355
Best Sector – Energy
Worst Sector – Financials
Winners
WorleyParsons Ltd (WOR) +$0.34, or (+7.3%) to $4.97
Australian Pharmaceutical Indu (API) +$0.12, or (+6.2%) to $2.05
Beach Energy Ltd (BPT) +$0.03, or (+6.1%) to $0.52
McMillan Shakespeare Ltd (MMS) +$0.73, or (+5.5%) to $14.03
Losers
Programmed Maintenance Service (PRG) -$0.07, or (-2.8%) to $2.40
Ten Network Holdings Ltd (TEN) -$0.005, or (-2.9%) to $0.165
CIMIC Group Ltd (CIM) -$0.89, or (-3.7%) to $23.41
Breville Group Ltd (BRG) -$0.38, or (-5.1%) to $7.09
All figures contained from sources believed to be accurate. MarketMatters does not make any representation of warranty as to the accuracy of the figures and disclaims any liability resulting from any inaccuracy. Prices as at 04/01/2016. 4.25PM.
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