ASX200 P.M Wrap 12 Feb 2018

Posted by Billy Macris on 12-Feb-2018 17:07:39

The ASX200 finsihed the day lower by 17.30 points or -0.30% at 5820.70. After some early weakness in the session we recovered and traded in positive territory when we reached a high of 5840.50 later in the day. Nereves and profit taking got the better of the market as the index retreated to close just 17.30 points lower. Markets focused on retail stocks today which were on "sale" today and traded at decent discounts to Fridays closing prices after JBH came out with lower than expected earnings which saw its share price lower by 8.00% on the day. MYR closed another 5.98% lower following on from its poor result also on Friday. Competitor HVN also traded lower today closing at $4.25 for a loss of 3.635 on the day. Other notable decliners today included SWM -5.71%, SYR -4.26% and WEb which declined 4.06%. It wasn't all bad news today as we saw some decent moves to the topside by GXY +5.59%, INM +5.33% and NXT +4.53%. In the big cap space we saw the miners BHP +1.48%, RIO +1.48% and FMG +2.39% contribute to the gains while the banks all finished lower NAB -0.80%, ANZ -0.68%, WBC -0.69% AND CBA -0.49% were always goingt o struggle on a day when the banking inquiry kicked off. The Australia Dollar is a little bid going into the London session at 0.7835, Spot Gold is at $1223.67 while the Yen is steady against the USD at 108.70.  MYR chart attached.myr.png

Topics: ASX PM update