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ASX200 P.M Wrap 15 Feb 2018

Posted by Billy Macris on 15-Feb-2018 16:24:33

As all eyes were on the Japanese yen strengthening this afternoon after it traded to a low of 106.33 the local market decided it was time to continue to push higher. The ASX200 finished at 5909.00 for a gain of 1.16% or +67.80 points. Gains today were widespread as the banks and in particular the miners put in a strong performance. At the big end of town BHP finished +4.56%, Rio Rallied 4.06% and FMG traded 5.69% higher.  Other performances worth mentioning were HT1 gained 13.14%, RSG +7.91%, ORG +6.86% and WHC +5.91%. When I normally write  these updates I usually scratch  around for stocks that have traded approximately +/-3.00% but as you can see from today’s price action it was very easy to see why the gains in the index were so large considering the size of the move in some of the individual stocks. Just as with the big moves higher we saw some big moves lower today. IPH -13.14%, DMP continued lower -7.53% and S32 -5.41% so all in all a busy day on both the positive and negative side of the ledger. Tonight I will be keeping an eye on both bond yields in the U.S and also the Yen just in case the markets decide to go into another tail spin as per last night’s CPI release.  IPH Chart attached

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Topics: ASX PM update