| INDEX CODE |
INDEX NAME |
CLOSING PRICE |
WEEKLY MOVE ($) |
WEEKLY MOVE (%) |
| XAO |
All Ordinaries |
3,939.5 |
-763.3 |
-16.2% |
| XJO |
ASX 200 |
3,960.7 |
-734.7 |
-15.6% |
| AMP |
AMP Limited |
$5.89 |
-$0.99 |
-14.4% |
| ANZ |
ANZ Banking Group Limited |
$15.30 |
-$3.41 |
-18.2% |
| BHP |
BHP Billiton Limited |
$27.74 |
-$2.68 |
-8.8% |
| BXB |
Brambles Limited |
$7.40 |
-$0.10 |
-1.3% |
| CBA |
Commonwealth Bank |
$39.55 |
-$5.46 |
-12.1% |
| CSL |
CSL Limited |
$36.65 |
-$3.92 |
-9.7% |
| FGL |
Foster's Group |
$5.35 |
-$0.60 |
-10.1% |
| MQG |
Maquarie Group Limited |
$28.52 |
-$10.58 |
-27.1% |
| NAB |
National Aust. Bank |
$20.80 |
-$5.35 |
-20.5% |
| NCM |
Newcrest Mining |
$25.64 |
-$1.95 |
-7.1% |
| QBE |
QBE Insurance Group |
$24.30 |
-$3.03 |
-11.1% |
| RIO |
Rio Tinto Limited |
$73.00 |
-$15.91 |
-17.9% |
| SGB |
St George Bank |
$25.19 |
-$4.95 |
-16.4% |
| SUN |
Suncorp - Metway |
$9.27 |
-$1.41 |
-13.2% |
| TLS |
Telstra Corporation |
$3.90 |
-$0.48 |
-11.0% |
| WBC |
Westpac Banking Corp |
$20.19 |
-$3.02 |
-13.0% |
| WDC |
Westfield Group |
$14.78 |
-$3.28 |
-18.2% |
| WES |
Wesfarmers Limited |
$21.75 |
-$6.60 |
-23.3% |
| WOW |
Woolworths Limited |
$25.00 |
-$3.90 |
-13.5% |
| WPL |
Woodside Petroleum |
$37.20 |
-$12.81 |
-25.6% |
To say this week has been one from hell is without doubt understating the events that have taken place. To begin with the All Ordinaries fell a whopping 995 points or 20.2% while the ASX200 faired marginally better falling 19.2%. Nothing was spared; Aussie banks were sold off with MQG and NAB leading the charge down by more than 27% and 20% respectively, ANZ shed 18%, SGB down 16%, WBC and SUN lower by 13% and CBA 12%. And it wasn’t just the banks, resources were also marked down sharply. WPL lost more than a quarter of its market value; RIO slid by almost 18% and BHP nearly 9%.
Stock markets around the world capitulated this week with many analysts not willing to predict an end to the crisis. Economists proclaimed that the imminent global slowdown in growth would continue to plague equity markets around the world. Recessionary fears have been at an all time high and investors weren’t willing to take any chances selling down their portfolios aggressively and running for the exits.
Fundamentals have gone out the window as sentiment has become the main driver. Not even the technical analysts are able to predict a bottom as trend lines continue to be breached. The questions we’re all asking are: When will the markets recover? Where are the markets heading? When will we see some normality?
Well for now it’s really anyone’s guess? let’s hope next week is a better week! One thing's for sure though; when our markets finally do settle and normality is restored, we are going to see an almighty run. At some point the value in our market WILL be respected.
