| INDEX CODE |
INDEX NAME |
CLOSING PRICE |
WEEKLY MOVE ($) |
WEEKLY MOVE (%) |
| XAO |
All Ordinaries |
3,831.6 |
-113.2 |
-2.9% |
| XJO |
ASX 200 |
3,869.4 |
-101.4 |
-2.6% |
| STOCK CODE |
COMPANY |
CLOSING PRICE
|
WEEKLY MOVE ($) |
WEEKLY MOVE (%) |
| AMP |
AMP Limited |
$5.69 |
-$0.31 |
-5.2% |
| ANZ |
ANZ Banking Group Limited |
$17.55 |
$0.70 |
4.2% |
| BHP |
BHP Billiton Limited |
$24.38 |
-$0.21 |
-0.9% |
| BXB |
Brambles Limited |
$7.84 |
$0.19 |
2.5% |
| CBA |
Commonwealth Bank |
$40.84 |
-$0.57 |
-1.4% |
| CSL |
CSL Limited |
$34.89 |
-$0.87 |
-2.4% |
| FGL |
Foster's Group |
$5.05 |
-$0.21 |
-4.0% |
| MQG |
Maquarie Group Limited |
$28.75 |
-$2.61 |
-8.3% |
| NAB |
National Aust. Bank |
$24.70 |
$3.10 |
14.4% |
| NCM |
Newcrest Mining |
$17.45 |
-$5.25 |
-23.1% |
| QBE |
QBE Insurance Group |
$25.40 |
-$0.30 |
-1.2% |
| RIO |
Rio Tinto Limited |
$64.10 |
$1.48 |
2.4% |
| SGB |
St George Bank |
$26.71 |
-$1.73 |
-6.1% |
| SUN |
Suncorp - Metway |
$8.38 |
-$0.01 |
-0.1% |
| TLS |
Telstra Corporation |
$4.03 |
$0.04 |
1.0% |
| WBC |
Westpac Banking Corp |
$20.66 |
-$0.82 |
-3.8% |
| WDC |
Westfield Group |
$13.34 |
-$3.31 |
-19.9% |
| WES |
Wesfarmers Limited |
$20.44 |
$0.50 |
2.5% |
| WOW |
Woolworths Limited |
$26.08 |
-$0.37 |
-1.4% |
| WPL |
Woodside Petroleum |
$39.21 |
$3.21 |
8.9% |
It was another down week for our market. The All Ordinaries fell another 3% while the ASX200 shed 2.6%. The past 11 months has seen our market drop a staggering 44% and unfortunately, it doesn’t look like we’ve seen a bottom. With the US knocking on the door of a recession, next week could bring further losses.
It was a mixed week with Newcrest Mining the biggest loser of the week down some 23%. Westfield wasn’t too far behind shedding nearly 20%. The major banks had a mixed week with the NAB up an impressive 14% and ANZ up 4% whilst Macquarie Bank, St. George and Westpac were all lower by 8%, 6% and 4% respectively.
The resources sector continued to disappoint this week with the heavyweights falling sharply yet again. BHP lost a further 1% having now more than halved in value while its competitor RIO rose around 2% for the same period. However, it too has more than halved in market capitalisation.
At the risk of incessantly repeating oneself, ProAcct and its team continue to believe the Australian share market represents good long term value. The short term remains challenging; there is no doubt about it. But generally speaking, Aussie companies are in good shape and in a strong enough position to whether the ensuing global financial storm.
