- The World today seemed a better place with the ASX 200 index managing to lift itself out of the gloom for a while this morning. At its best, the index was up 87 points with all sectors firing. Towards the end of day however, we received the customary weakness and the market closed only 22 points higher (+0.5%) at 4,864.
- The resources were better during the day, however they also succumbed to the weakness in the market in the afternoon. RIO Tinto (RIO) had a high of $39.25 early on, but finished the day up 61c to $38.36. BHP Billiton (BHP) however finished down, but only 1c lower at $14.20.
- Origin Energy (ORG) was buoyed by a report from the company Managing Director Grant King “Origin is confident that its robust financing arrangements and cash flows from existing businesses position the company well to withstand a prolonged period of low oil prices," The stock rose to a high of $3.98 before finishing the day up 23c (+6.7%) to $3.69.
- The banks were sold down in afternoon trade with CBA closing down 80c to $76.81, after reaching a high of $79.16. ANZ continued to be the weakest, with the stock closing down 39c to $23.11 after briefly touching $23.95 earlier the weakness was the follow on effect from a bank analyst -Morgan Stanley forecasting a cut to its full year dividend.
Best Sector – Telcos
Worst Sector – Financials
Winners
Origin Energy Ltd (ORG) +$0.23, or (+6.7%) to $3.69
JB Hi-Fi Ltd (JBH) +$1.18, or (+5.5%) to $22.71
GrainCorp Ltd (GNC) +$0.42, or (+5.4%) to $8.20
CSR Ltd (CSR) +$0.11, or (+4.5%) to $2.53
Losers
Australia & New Zealand Banking (ANZ) -$0.39, or (-1.7%) to $23.11
Qantas Airways Ltd (QAN) -$0.07, or (-1.8%) to $3.93
Dexus Property Group (DXS) -$0.16, or (-2.2%) to $7.19
Challenger Ltd/Australia (CGF) -$0.38, or (-5.2%) to $6.99
All figures contained from sources believed to be accurate. MarketMatters does not make any representation of warranty as to the accuracy of the figures and disclaims any liability resulting from any inaccuracy. Prices as at 21/01/2016. 4.20PM.
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