Afternoon Report Thursday 3 June 2014
The ASX 200 had a strong session today, closing up 36 points as investors looked to establish/adjust positions in their portfolios for the new financial year.
The buying looked to have been from money inflow, with ANZ and Westpac (WBC) paying their dividends to shareholders earlier this week.
June China HSBC Markit Services PMI printed4.7% higher month-on-month at 53.1 (<50 equals retraction, >50 equals growth).
Building approvals reported +9.9% for the month of May, stunning analysts' forecast of +3.2%.
Telstra (TLS) closed 1% higher to $5.28 as "many analysts and fund managers" believe a buy-back is likely in the near term.
WinnersBluescope Steel (BSL) +6.9% to $5.93Worley Parsons (WOR) +6.3% to $18.61Fortescue Metals (FMG) +5.2% to $4.63Arrium (ARI) +4.9% to $0.865Alumina (AWC) +4.3% to $1.45
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