• The ASX 200 followed global equities’ sentiment from overnight and traded on its lows early this morning, as low as 59 points, until the Chinese Government reiterated its intention to support its market helping our domestic market to claw back most of its losses and close only 5 points lower from previous at 5584.
• The banking sector closed mixed, with Westpac (WBC) being the weakest link, down 0.4% at $34.21 after reports of a computer glitch not allowing to charge different interest rates to its owner occupier customers and its property investors, losing an estimated cost of ~$1m a day.
• Origin Energy (ORG) rallied 2.7% higher after announcing its LNG project is on track with its current export target. ORG closed 30c higher at $11.45.
• Today, subscribers received a live alert reducing half of one of our current holdings, into the energy sector.
Best Sector – Energy
Worst Sector – Information Technology
Winners
G8 Education Ltd (GEM) +$0.1, or (+3.1%) to $3.32
CSR Ltd (CSR) +$0.1, or (+2.8%) to $3.62
Origin Energy Ltd (ORG) +$0.3, or (+2.7%) to $11.45
Fortescue Metals Group Ltd (FMG) +$0.04, or (+2.3%) to $1.75
Losers
Ansell Ltd (ANN) -$0.68, or (-2.8%) to $23.36
Magellan Financial Group Ltd (MFG) -$0.67, or (-3.6%) to $17.99
OzForex Group Ltd (OFX) -$0.08, or (-3.6%) to $2.14
Regis Resources Ltd (RRL) -$0.065, or (-4.7%) to $1.305
All figures contained from sources believed to be accurate. MarketMatters does not make any representation of warranty as to the accuracy of the figures and disclaims any liability resulting from any inaccuracy. Prices as at 28/07/2015. 4.30PM.
Reports and other documents published on this website (‘Reports’) are authored by Market Matters. The MarketMatters Reports are based on technical analysis of companies, commodities and the market in general. Technical analysis focuses on interpreting charts and other data to determine what the market sentiment about a particular financial product is, or will be. Unlike fundamental analysis, it does not involve a detailed review of the company’s financial position.
The Reports contain general, as opposed to personal, advice. That means they are prepared for multiple distribution without consideration of your investment objectives, financial situation and needs (‘Personal Circumstances’). Accordingly, any advice given is not a recommendation that a particular course of action is suitable for you and the advice is therefore not to be acted on as investment advice. You must assess whether or not any advice is appropriate for your Personal Circumstances before making any investment decisions. You can either make this assessment yourself, or if you require a personal recommendation, you can seek the assistance of a financial advisor.
The Reports are published by MarketMatters in good faith based on the facts known to it at the time of their preparation and do not purport to contain all relevant information with respect to the financial products to which they relate. Although the Reports are based on information obtained from sources believed to be reliable, Market Matters does not make any representation or warranty that they are accurate, complete or up to date and Market Matters accepts no obligation to correct or update the information or opinions in the Reports.
If you rely on a Report, you do so at your own risk. Any projections are estimates only and may not be realised in the future. Except to the extent that liability under any law cannot be excluded, Market Matters disclaims liability for all loss or damage arising as a result of any opinion, advice, recommendation, representation or information expressly or impliedly published in or in relation to this report notwithstanding any error or omission including negligence.
The author holds an interest in the financial products of ANN, BOQ, CBA, CGF, FMG, MGR, NST, RRL, SEK, VOC & WPL.
