Afternoon Report Tuesday 1 April 2014
End-of-quarter selling pressure eased by positive signals out of China
The ASX 200 had a classic end-of-quarter morning sell off (low -44 points intraday) as investors squared off their quarter rebalancing, however, rallied on the back of a Chinese PMI figure coming in ahead of analysts' expectations, although softening again on the HSBC PMI figure came in a smidgen below expectations.
The gold sector continues to retrace, as predicted, with Newcrest Mining (NCM) -2.1% & Regis Resources (RRL) -4.4%.
The resource sector was the outperformer today, with BHP Billiton (BHP) +58c as the market speculates a demerger/spin off from its non-core assets & RIO Tinto (RIO) +30c.
Show more...
You need to be a member to view this article
REGISTER FOR FREE INSTANT ACCESS
Already a member? Login Here
