Afternoon Report Thursday 15 May 2014
The ASX200 closed +14 points higher, with investors continuing to sit on the sidelines due to indecision as to the direction of this market.
Commonwealth Bank (CBA) again hit all-time highs touching $81.29 this morning, closing +31c at $81.20.
Orica Ltd (ORI) continued its underperformance after releasing earnings, closing -1.2% or -20c at $20.96.
QBE was weak today closing -0.9% to $11.34. Our preference in the financial sector remains with Suncorp (SUN), currently the only core long position in our portfolio. SUN closed +4c at $13.44.
Goodman Fielder (GFF) went into trading halt late in the session as Wilmar International and First Pacific announce a 5c per share increase in their offer price to 70c per share. GFF last traded at 67c.
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