ASX selloff deepens | Retail and Tech sectors outlook positive after Turnbull win - SMH | Seven media (SWM) share buy back |

Niv Dagan

Peak Asset Management

Good Afternoon, Surely a new Prime Minister will build confidence in the market ……? No… This wasn’t the case today…. Shares closed deep in the red… There was certainly no “Turnball rally” today….. The XJO fell 78.1 points…falling 1.53%... Another drop in Chinese equities and weak commodity prices were to blame. Read here my thoughts on what Turnbull’s means for markets and which sectors will benefit from this move: (VIEW LINK) (CTR Click) The Big banks suffered today, with ANZ, NAB and Westpac all around 2.4 per cent down, while CBA did relatively better, falling 1.5 per cent. Rio slumped 2.2 per cent and BHP dropped 1.3 per cent. South32 plunged 7.5 per cent. Telstra closed 1.1 per cent lower and CSL 1.2 per cent. Among the 27 stocks in the top 200 to gain was Santos, which climbed 3.1 per cent, and Seven West Media, which jumped 6.5 per cent on news of a buyback. CHARTS OF THE DAY – Dow Jones (USA) … Will it Hold The Trend line? We see XJO at 4750 then buying time....

3 stocks mentioned

Niv Dagan
Niv Dagan
Executive Director
Peak Asset Management

Prior to founding PEAK Asset Management, Niv headed up HC Securities, spent three years growing Halifax Investments capital markets division and also worked on the wholesale desk at Macquarie Bank, servicing a wide range of institutional,...


No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.


Sign In or Join Free to comment