Afternoon Report Tuesday 14 October 2014
The ASX 200 rallied as expected from this morning's report; closing 52 points higher at 5207, led by the miners for the second session in a row.
RIO Tinto (RIO) closed up $2.38 at $60.74 while Fortescue Metals (FMG) finished up $0.19 at $3.65 – see the Hickman Report with regards to our recent trading buy target.
The broader market followed suit thereafter, with our preferred sector to buy on current weakness (banks) swinging from negative territory to positive intraday, e.g. Bank of Queensland (BOQ) closing 12c higher at $12.00.
Bluescope Steel (BSL) managed to claw back most of its losses, closing down -2c at $5.02, despite opening weaker due to yesterday’s Port Kembla fire.
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