The local market opened and closed strongly, but everything in the middle was weak and ultimately the index fell for the fourth day running. Equities struggled today as the market grapples with the US Fed progress and the possibility of a US Government shut down. The hail storms that battered Sydney last night lead to weakness in the local insurers – IAG the worst hit falling -4.32% to $6.65. Orocobre followed yesterday’s -13.6% fall with another -10.98%. The biggest IPO of the year – Viva Energy (ASX: VEA) fell -6.8% on the announcement that refinery margins for November we well below previously downgraded guidance. On the better end of the market, Healthscope (ASX: HSO) put on +5.83% following a release to the market which discussed the progress of the due diligence by suitor BGH.
As a reminder to all of our subscribers, this will be the last Market Matters Report for 2018, recommencing on Monday 14thJanuary 2019. Importantly, over the break we will be sending alerts if we transact / amend either portfolio while we’ll also provide updates should the market have any significant movements.
Overall, the index closed down -38 points or -0.69% today to 5467 and was down -1.4% on the week. Dow Futures are trading down -12 points / -0.05%.
ASX 200 Charts
CATCHING OUR EYE
- BWX Downgraded to Neutral at Goldman
- Incitec Upgraded to Hold at Morningstar
- Domain Holdings Upgraded to Buy at Morningstar
- Whitehaven Upgraded to Hold at Morningstar
Sectors this week
Stocks this week
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