Afternoon Report Thursday 21 May 2015
• A three-day losing streak was broken in the ASX200 today, ending 52 points higher (0.9%) at 5662.• The banking sector ex- National Australia Bank (NAB) had a solid session. CBA closed $1.07 higher (+1.3%) at $83.56 while NAB lost 0.5% at $33.38 most likely due to investors selling NAB and holding the granted NAB Rights.• Fortescue Metals (FMG) had also recovered some of this week’s losses, up 2.4% at $2.12, despite rating’s agency, Fitch downgrading the company’s outlook to negative. Hence, we are traders, not investors of the materials sector. BHP Billiton (BHP) had a better day, but on low volume. The price finished the day up 42c (1.46%) to $29.24, whilst it's baby South 32 (S32) also had its lowest volume for the week, finished up 1c (0.42%) to $2.37.
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