Afternoon Report Thursday 11 September 2014
It was a sea of red today, with the ASX 200 selling off from the morning, closing down 28 points to 5,546.
The August employment data was released today, surprising all by reporting an employment change of +121K, 707% above consensus of 15k.
The banking sector contributed close to 10 points of the 28, with Commonwealth Bank (CBA) the weakest link, closing down 90c at $80.64.
The Iron Ore sector continues to underperform, with BHP Billiton (BHP) closing down 30 points to $35.50 and Fortescue Metals (FMG) down 6c at $3.87.
The Consumer Discretionary sector was the weakest of all today, with Myer Holdings (MYR) closing down 32c to $2.15 after reporting its FY14 earnings today. See our Stop Loss update today with regards to Hickman’s positions.
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