Market Matters Afternoon Report Thursday 19th May 2016

Afternoon Report 19/05/2016

Market Matters Afternoon Report Thursday 19th May 2016

Good Afternoon everyone

Market Data

What Mattered Today

The miners and energy stocks were a drag today with BHP off -3.71% to $18.71 & RIO off -3.34% to $44.29. Banks did OK and all closed in the green however it wasn’t enough to offset the weakness. The ASX closed down -32pts at 5323 after the May index settled at 5375 on expiry this morning.

In the last two days, the U.S has thrown up more indications that they’ll raise rates this year. Early in the week the likelihood of a June hike was sitting at 4% - so really no chance while that number has firmed markedly – and is now closer to 20%. Higher rates in the U.S put upward pressure on the $US which is a negative for commodity prices.

Golds were particularly soft today; Newcrest (NCM) was down 7.54% while Regis Resources (RRL), a stock we’ve been in and out of (now out of) dropped 8.75% to close at $2.92.

Stocks & Sectors Today

Source; Bloomberg

ASX 200 Movers

What Matters Tonight

A new way to highlight GLOBAL FUTURES markets courtesy of CNBC…

Source; http://www.cnbc.com/world-markets-heat-map/

Regards,
The Market Matters Team
Level 12 28-34 O'Connell St
Sydney, NSW 2000.

All figures contained from sources believed to be accurate. Market Matters 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 19/05/2016. 4:30PM.

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