Afternoon Report Tuesday 27 May 2014
The ASX200 had another quiet session today closing +5 points.
Suncorp (SUN) closed -2.2% lower at $13.395 after flagging a $500m write-down in its life insurance business. As conveyed to our Subscribers, we took profits in SUN during the morning session, reducing our exposure to half-weighting, but retain a positive bias at current levels.
Donaco International (DNA) closed down -10% to $1.035 after reports that a Chinese vessel attacked and sank a Vietnamese fishing boat off the coast of Vietnam.
OZ Forex (OFX) was sold off after it reported a 6.8% fall in net profit to $16m for its full year, closing -19% to $2.65.
Papillion Resources (PIR) continues to be in a trading halt pending an announcement with regards to a potential corporate transaction. Last trade at $1.425
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