Afternoon Report Thursday 19 June 2014
All stars aligned today, with the ASX 200 closing 86 points higher today. The broad market was strong, with few losers to be found. E.g. CBA +1.6% to $82.30, NAB +1.8% to $33.59, BHP +3.3% to $36.43 & RIO +2.3% to $59.24.
Fortescue Metals closed up 5.0% to $4.22 helped by news that Chairman Andrew Forrest purchased 1.75M FMG for $7M.
Ten Network (TEN) closed 6.9% lower to $0.27 after releasing a disappointing revenue and cost guidance for the 2014 financial year.
Woodside (WPL) clawed back yesterday’s losses, closing above the $41.35/share placement to $41.50.
With June stock options expiring next week and end of financial year looming, we are likely to need a big influence to push the market down from these levels in the next 2 weeks.
Show more...
You need to be a member to view this article
REGISTER FOR FREE INSTANT ACCESS
Already a member? Login Here
