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Australian Investment Blog

Afternoon Report 06/03/2014

Afternoon Report Thursday 6 March 2014

The ASX 200 had a quiet day, closing unchanged with much of its weakness seen in the resources sector.

Early weakness was seen in the banking sector earlier today, however, Bank of Queensland (BOQ) charged up 19c as Moody’s upgraded their credit rating from Baa1 to A3.

We were buyers of BOQ today, looking for a run up towards dividend and targeting $13. See morning report.

Strong January retail sales were released at +1.2% vs. +0.4% expected with JB Hi-Fi (JBH) closing up 1.5%.

The January trade balance announced today was the stand out, +1.433B vs. an expected +100M, pushing the SPI Futures up over 10 points upon release.

WinnersSirius Resources (SIR) +8.8% to $2.73Leighton Holdings (LEI) +5.7% to $19.24CarSales.com (CRZ) +5.0% to $11.03AMP Ltd (AMP) +4.2% to $5.02Western Areas (WSA) +3.9% to $3.46


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