Afternoon Report Tuesday 18 November 2014
The ASX 200 continued its weak streak, ending the day down 13 points, just below 5,400.
The gold sector continues its recent strength, with Regis Resources (RRL) breaking through $1.50. We remain bullish for a test of our $2.00 target.
The Iron Ore sector however, gave its gains by the afternoon, as RIO Tinto (RIO) closed 0.7% lower at $59.47 and Fortescue Metals (FMG) down 6.6%, at $2.97.
UGL Limited (UGL) closed 55.5% lower at $2.36, only after trading ex-special dividend at $3 a share for the sale of its property services division to DTZ for $1.21bBn
Best Sector – GoldWorst Sector – Financials
WinnersRegis Resources (RRL) +$0.04, or (+2.7%) to $1.505Treasury Wine Estates (TWE) +$0.12, or (+2.7%) to $4.64Newcrest Mining (NCM) +$0.20, or (+2.1%) to $9.54IInet (IIN) +$0.18, or (+2.2%) to $8.37
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