Afternoon Report Tuesday 15 July 2014
The ASX 200 had a solid start, up 25 early in the session, only to sell off steadily and close unchanged.
Today's selling was focused in the big 4 banks, with ANZ down 31c to $33.23 and CBA down 21c to $81.50. The regional banks fared better with BOQ up 1.3% to $12.41.
The bank's weakness was on the back of an international bank's research note seeing risk to the downside in the major banks, following the release of the "Murray" (Financial System) Inquiry.
Platinum members, please refer to our morning note in relation to our buy target, profit target and stop loss target on the financial sector.
The resource sector saw solid gains, with RIO closing up 1.2% to $63.10 and Fortescue Metals (FMG) up 1.7% to $4.31.
Show more...
You need to be a member to view this article
REGISTER FOR FREE INSTANT ACCESS
Already a member? Login Here
