Afternoon Report Monday 8 September 2014
It was a whippy session with the ASX 200 today, starting off with an aggressive sell off in the morning, down 30 points at one stage, only to claw back some of its losses by afternoon trade to close down 22 points to 5,577.
The Health Care Sector was the weakest link today, with CSL trading ex-dividend and Mesoblast closing 23c lower at $5.05. CSL remains bullish longer term, but potentially “toppy” here, whilst MSB remains bearish at present.
The banking sector also closed weaker, with Commonwealth Bank (CBA) closing 4c lower at $81.26 and Westpac (WBC) down 18c at $34.58.
The resource sector closed mixed today, as investors attempt to “pick” the bottom of its recent weakness, with BHP Billiton (BHP) marginally higher at $35.66, while RIO Tinto (RIO) closed down 28c at $61.02.
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