- A strong bounce back today, with the ASX 200 up 103 points (+2.1%) at 4,980, with resource companies the main driver
- This came on the back of some decent weakness in the US Dollar overnight (which is a positive for commodity prices), and a theme Market Matters has been anticipating for some time now
- Iron Ore was limit up in Asia today, which supported our Iron Ore miners and we used the strength to take half profit on our Fortescue Metals (FMG) position which finished up 11.7% to $1.81.
- Macquarie Group (MQG) lost 5% at $64.86 after disappointing investors with its operational briefing – although it traded more than $3 up from its intra-day low
- The Oil names rallied as expected, OilSearch (OSH) closed 7.1% higher at $6.75, while diversified resources, BHP rallied 8.3% higher at $15.45 .
Best Sector – Materials
Worst Sector – Health Care
Winners
South32 Ltd (S32) +$0.135, or (+14.2%) to $1.085
Santos Ltd (STO) +$0.37, or (+13.4%) to $3.14
Iluka Resources Ltd (ILU) +$0.65, or (+12.4%) to $5.91
Fortescue Metals Group Ltd (FMG) +$0.19, or (+11.7%) to $1.81
Losers
Healthscope Ltd (HSO) -$0.08, or (-3.4%) to $2.25
Macquarie Group Ltd (MQG) -$3.40, or (-5.0%) to $64.86
Domino's Pizza Enterprises Ltd (DMP) -$3.38, or (-5.9%) to $53.97
Ansell Ltd (ANN) -$3.85, or (-20.6%) to $14.80
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 04/02/2016. 4.39PM.
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