End of Day Report

Marcus Padley

Marcus Today

What happened today? ASX 200 down 28.1 points at 5080.5 as resources rally on bargain hunting. Chinese data sinks gains despite Shanghai up 0.69% although Tokyo down 1%.US Futures up 42 points helping sentiment. After early morning falls that took the ASX 200 below 5070, the resources picked themselves up, patched up their wounds and attempted a rally getting into positive territory before Chinese numbers took the wind out of the sails. Unfortunately, the rally could not hold despite US futures showing a positive opening and we slid into the close a few points above our lows. The bloodbath of yesterday was a little overdone and it was inevitable that we would see some bargain hunting at some stage. Although oil and iron ore swooned they held and that was enough to encourage a few hardy souls back in. Santos(STO)+5.74% a big loser yesterday and BHP +0.65% both bounced hard. At one stage BHP touched 1671 cents following falls in London. (VIEW LINK)


Marcus Padley
Director
Marcus Today

Marcus Padley founded Marcus Today in 1998 and leads the team of analysts and market commentators that publishes a daily stock market newsletter, presents four podcasts and runs an $80m Australian equity fund. He is passionate about educating and...

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