Afternoon Report Thursday 10 April 2014
A weak session on the ASX today closing up only 0.3% despite rallying +0.07% this morning to 5,503 points.
The bank sector spired the market with ANZ reaching an all-time high of $34.18. April is bullish for the big 4 banks, averaging a healthy 3.2% return for the month (www.probabilitytrader.com).
The resource sector, however, reversed morning gains to close in the red after disappointing data out of China was released. Year on year exports -6.6% vs. 4.8% estimate and year on year imports at -11.3% vs. 3.9% estimated. BHP at one stage traded +0.4%, but reversed and closed -1.3% to $37.90.
Wotif.com (WTF) +6.6% to $2.73Regis Resources (RRL) +6.4% to $2.65Sirius Resources (SIR) +5.0% to $2.56TPM Telecom (TPM) +5.2% to $6.28Northern Star (NST) +4.8% to $1.21
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