Afternoon Report Thursday 19 March 2015
• The market roared from the opening bell today, the ASX200 closed 109 points higher (+1.9%) at 5951.• The banking sector rallied and outperformed the market, with 3 of the big 4 banks making fresh new highs as we had anticipated in recent reports. ANZ closed 2% higher at $36.63 after hitting all-time highs at $36.68, Commonwealth Bank (CBA) up 2.4% at $95.61 after hitting all-time highs at $95.80 and Westpac (WBC) up 2.7% at $39.71 after hitting all-time highs at $39.72.• A landmine was set this morning, Myer (MYR) closed 10.1% lower at $1.375 after reporting its 1H 2015 net profit, -23% on the year and below analysts’ estimates.• Fortescue Metals (FMG) rallied 6.7% at $1.99, outperforming its Iron Ore peers today.• The gold sector closed had a solid performance today, with Newcrest Mining (NCM) up 6.5% at $13.30.
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