Afternoon Report Monday 8 December 2014
• The ASX 200 closed 0.7% higher at 5373, after months of speculation around the Murray Inquiry ended with yesterday’s release.• Few surprises were seen in the report hence the market resumed to “normal trading”. Without the potential capital raising overhang the “big 4” banks rallied e.g. National Australia Bank (NAB) ending up 1.8% at $32.97.• The “Aussie IT sector” had a good day led by Seek Ltd (SEK) up 2.7% at $17.70.• The retail sector started the week in the red, with Myer (MYR) continuing its recent decline, down 1.9% at $1.535 and JB Hi-Fi (JBH) down 2.0% at $15.59 - perhaps anticipation of consumers limiting their spending money towards Christmas.• Qantas (QAN) ended 13.8% higher today and up 24.5% for the month so far, after announcing a profit upgrade.
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