The ASX200 closed 30 points lower at 5858 as CBA and BLD traded ex-dividend and the European negativity remains in place until the Greek debt to its creditors...

Nicholas Forsyth

Market Matters

The ASX200 closed 30 points lower at 5858 as CBA and BLD traded ex-dividend and the European negativity remains in place until the Greek debt to its creditors is solved. ANZ closed 2.5% lower at $34.99 after posting its first quarter trading update, clearly disappointing investors' expectations. CBA traded ex-dividend and closed $3.47 lower at $90.02. Note, seasonally, CBA has been in positive territory for the last 16-years in April, we remain a holder of CBA at present. CGF closed -0.9% at $6.45 after reporting its half yearly earnings below analysts' expectations. It has however increased its interim dividend and its retail annuity business to continue its growth this year. MQG rallied +3.5% at $70.90 after updating its investors with its operational briefing stating it expects to report its full year earnings in the upper end of its forecast range. FMG closed -4.9% at $2.55 after reporting its first-half earnings. Concerns continue with its growth prospect. SEK sold-off, -8.7% lower at $17.10 after missing analysts' expectations. See the recent HickmanReport in regards to our take profit call around $18.50-$19 recently.


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Nicholas Forsyth
Nicholas Forsyth
Director
Market Matters

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