|
|
INDEX CODE
|
INDEX NAME
|
CLOSING PRICE
|
WEEKLY MOVE ($)
|
WEEKLY MOVE (%)
|
| XAO
|
All Ordinaries
|
3,386.9
|
-340.5
|
-9.1%
|
| XJO
|
ASX 200
|
3,416
.5
|
-333.1
|
-8.9%
|
| AMP
|
AMP Limited
|
$5.29
|
-$0.06
|
-1.1%
|
| ANZ
|
ANZ Banking Group Limited
|
$13.36
|
-$0.42
|
-3.0%
|
| BHP
|
BHP Billiton Limited
|
$21.90
|
-$4.50
|
-17.0%
|
| BXB
|
Brambles Limited
|
$7.50
|
-$0.09
|
-1.2%
|
| CBA
|
Commonwealth Bank
|
$30.95
|
-$1.15
|
-3.6%
|
| CSL
|
CSL Limited
|
$30.85
|
-$7.13
|
-18.8%
|
| FGL
|
Foster's Group
|
$5.39
|
-$0.41
|
-7.1%
|
| MQG
|
Maquarie Group Limited
|
$27.06
|
$4.33
|
19.0%
|
| NAB
|
National Aust. Bank
|
$19.00
|
-$0.79
|
-4.0%
|
| NCM
|
Newcrest Mining
|
$21.46
|
$0.42
|
2.0%
|
| ORG
|
Origin Energy
|
$15.45
|
-$1.77
|
-10.3%
|
| QBE
|
QBE Insurance Group
|
$23.91
|
-$2.04
|
-7.9%
|
| RIO
|
Rio Tinto Limited
|
$60.01
|
-$11.99
|
-16.7%
|
| SUN
|
Suncorp - Metway
|
$6.91
|
-$0.29
|
-4.0%
|
| TLS
|
Telstra Corporation
|
$3.98
|
-$0.28
|
-6.6%
|
| WBC
|
Westpac Banking Corp
|
$16.35
|
-$0.45
|
-2.7%
|
| WDC
|
Westfield Group
|
$13.24
|
-$1.26
|
-8.7%
|
| WES
|
Wesfarmers Limited
|
$19.01
|
$1.21
|
6.8%
|
| WOW
|
Woolworths Limited
|
$25.55
|
-$2.73
|
-9.7%
|
| WPL
|
Woodside Petroleum
|
$29.00
|
-$7.90
|
-21.4%
|
Another terrible week for local stocks! The "buyers strike" continued on the Australian market with the All Ordinaries down 9.1% for the week and the ASX 200 fairing marginally better - down 8.9% for the week. The market has now shed more than 21% since the 5th of November.
Whilst no major market changing news came out in Australia during the week, Wall Street was the catalyst for our sell down. We continue to be hostage to the trials of tribulations of life on Wall Street. With a "lame duck" President calling the shots in Washington, market relief may still be several weeks away (when President Obama is inaugurated).
With global growth/recessionary fears "front & centre" it was no surprise to see the Australian miners come under so much pressure. BHP, Rio Tinto and Woodside all lost in excess of 16% for the week. The banks, after having been sold down the previous week, faired better with losses of between 1% - 4%. With Resource stocks providing the cheapest entry levels in 4+ years and Bank stocks providing gross dividend yields of 12+%, long term investors are surely licking the lips!
Have we seen the bottom? It's the million dollar question! What we saw on Friday was truly amazing. With the market down 137points at the low, buying kicked in and we saw the market finish up 64 points. This sort of reversal may set the tone for a strong rally in the coming weeks as the selling (particularly margin lending selling) is exhausted. Lets hope so!
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