Afternoon Report Wednesday 20 August 2014
Today, we acquired a stock for Hickman's positions as per live alerts to subscribers – this was overall very much in line with our thoughts in today’s morning report.
The ASX 200 closed 8 points higher at 5,635 despite BHP falling 5% overseas.
BHP Billiton (BHP) opened on its lows at $37.83 but managed to bounce 39c, only to recover marginally and close down $1.55 to $38.13. This was after reporting its earnings yesterday afternoon. Interestingly, FMG & RIO were down 7c & 42c respectively.
QBE Insurance resumed trading today, and had a stellar day, closing up 60c to $11.31 after a disappointing result and capital raising. We see better risk/reward elsewhere.
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