The index eases into the weekend
WHAT MATTERED TODAY
The ASX200 gave back some of its impressive run today, finishing around have a percent lower as profit taking, tax loss selling and general market jitters helped the market lower. Energy names did well on the Iran US issues, energy easily the best performer today – oil spiked 6% overnight on the back of the geopolitical tensions. CSL struggled after warning of lower sales heading into the end of the first half.
Despite the soft finish, the index finished up nearly 100 points for the week, crashing through new decade long highs.
Overall today, the ASX 200 closed down -36pts at 6650. Dow Futures are trading up +38 points or 0.15%
ASX 200 Chart
ASX 200 Chart
CATCHING OUR EYE:
Sectors this week:
Stocks this week:
Some of the notes we published during the week
Caltex (CTX) struggles; the petrol station operator slumped as profit tumbled. Click Here
Coles (COL) hits all-time highs; the newly demerged Coles shares rallied on the company’s investor day. Click Here
Vocus (VOC) bidder walks; shares in the telco slumped as a second bidder walked in less than a fortnight. Click Here
Broker Moves;
- WiseTech Downgraded to Lighten at Ord Minnett; PT A$18.37
- Caltex Australia Downgraded to Neutral at UBS; PT A$23.30
- Caltex Australia Upgraded to Buy at Goldman; PT A$29
- Sydney Airport Upgraded to Neutral at Macquarie; PT A$8.39
- Sydney Airport Downgraded to Sell at Morningstar
- Credit Corp Cut to Neutral at Evans and Partners; PT A$24.74
- Healius Downgraded to Hold at Morningstar
- Macquarie Group Downgraded to Hold at Morningstar
- Woodside Upgraded to Buy at Deutsche Bank
- Coca-Cola Amatil Cut to Underperform at Credit Suisse; PT A$8.90
OUR CALLS
No changes today
Watch out for the weekend report. Have a great night,
James, Harry & the Market Matters Team
Disclosure
Market Matters may hold stocks mentioned in this report. Subscribers can view a full list of holdings on the website by clicking here. Positions are updated each Friday, or after the session when positions are traded.
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