- The ASX 200 had a mixed day today and ended disappointingly only +12 points to 5,210.
- After being up as much as 46 points within half an hour the market started to decline before getting sold off just after mid-day; about the same time that the Shanghai Market opened.
- Macquarie Bank (MQG) and Australia New Zealand Bank (ANZ) announced the expected sale of Esanda from ANZ to MQG.
- MQG paid $8.2b including debt, which now makes MQG’s motor vehicle finance assets climb from $9b to $17b.
- MQG also announced a $400m share placement to institutional investors and a share purchase plan for eligible investors.
- Bank of Queensland (BOQ) announced a good result which slightly beat market expectations. Full Year 2015 cash earnings were $357m with a dividend of 38c. BOQ finished the day up 85c to $12.46
- The miners continued to perform well even though the market fell off the highs. BHP Billiton (BHP) was up over 3% to close at $25.00. RIO Tinto (RIO) was off its highs but finished at $53.18 up 2%. On the back of Iron Ore on the rise in Singapore, Fortescue Metals (FMG) rose 5.25% to $2.21, its highest level since June.
Best Sector – Energy
Worst Sector – Industrials
Winners
Western Areas Ltd (WSA) +$0.23, or (+9.16%) to $2.74
Santos Ltd (STO) +$0.43, or (+8.5%) to $5.50
Bank of Queensland Ltd (BOQ) +$0.85, or (+7.3%) to $12.46
Fortescue Metals Group Ltd (FMG) +$0.11, or (+5.3%) to $2.21
Losers
Slater & Gordon Ltd (SGH) -$0.09, or (-3.0%) to $2.95
Qantas Airways Ltd (QAN) -$0.12, or (-3.2%) to $3.60
Newcrest Mining Ltd (NCM) -$0.58, or (-4.0%) to $14.00
AWE Ltd (AWE) -$0.05, or (-6.0%) to $0.79
Please note this is our personal TECHNICAL opinion of markets and "General Advice" taking no account of individual’s circumstances.
Have a great evening,
From Richard & the Market Matters Team
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 8/10/2015. 4.30PM.
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