- A late session sell off saw the ASX close lower today, off 50 points to (-1%) at 4,993.
- The RBA decision at 2.30pm seemed to be the catalyst – with the RBA keeping rates on hold as expected, however there were some in the market that were clearly positioning for a surprise cut on the back of Bank of Japan easing, and further volatility from Chinese economic data.
- Only one of the big 4 banks ended in positive territory, with NAB $0.08 higher (+0.3%) at $27.91 while Westpac (WBC) was the weakest link, down 35c (-1.1%) at $30.30.
- The Resource names closed weaker as expected, following the S&P downgrade to some of the majors debt rating. BHP lost 2.2% to $14.92, while RIO closed 3.7% lower at $37.54 and Fortescue Metals (FMG) ended 5.1% lower at $1.59.
- Computershare (CPU) was a market darling today, rallying $0.30 (+2.8%) to $10.85 on the back of a good contract win.
Best Sector – IT
Worst Sector – Energy
Winners
Navitas Ltd (NVT) +$0.18, or (+3.9%) to $4.78
Computershare Ltd (CPU) +$0.30, or (+2.8%) to $10.85
CSR Ltd (CSR) +$0.04, or (+1.5%) to $2.70
ALS Ltd (ALQ) +$0.04, or (+1.2%) to $3.39
Losers
WorleyParsons Ltd (WOR) -$0.18, or (-5.0%) to $3.39
Fortescue Metals Group Ltd (FMG) -$0.085, or (-5.1%) to $1.59
Magellan Financial Group Ltd (MFG) -$1.23, or (-5.3%) to $21.92
Challenger Ltd/Australia (CGF) -$0.52, or (-6.5%) to $7.53
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 02/02/2016. 4.13PM.
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