Weekly ProWrap ProAcct

Summary for the week ending May 7, 2010

Indices

INDEX CODE INDEX NAME CLOSING PRICE

WEEKLY MOVE ($)

WEEKLY MOVE (%)

XAO All Ordinaries

4,507.7

-326.2

-6.7%
XJO ASX 200

4,480.7

-326.7

-6.8%

Top 20 Stocks

STOCK CODE COMPANY CLOSING PRICE

WEEKLY MOVE ($)

WEEKLY MOVE (%)

AMP AMP Limited

$5.76

-$0.50

-8.0%
ANZ ANZ Banking Group Limited

$21.90

-$2.30

-9.5%
BHP

BHP Billiton Limited

$37.50

-$3.25

-8.0%
BXB

Brambles Limited

$6.88

-$0.38

-5.2%
CBA Commonwealth Bank

$53.00

-$5.51

-9.4%
CSL CSL Limited

$33.19

$0.80

2.5%
FGL Foster's Group

$5.31

-$0.13

-2.4%
MQG

Macquarie Group Limited

$45.53

-$4.76

-9.5%
NAB National Aust. Bank

$24.58

-$3.42

-12.2%
NCM

Newcrest Mining

$31.49

-$1.60

-4.8%
ORG Origin Energy

$15.26

-$1.12

-6.8%
QBE QBE Insurance Group

$20.51

-$0.59

-2.8%
RIO

Rio Tinto Limited

$64.98

-$7.12

-9.9%
SUN

Suncorp - Metway

$8.19

-$0.84

-9.3%
TLS Telstra Corporation

$3.00

-$0.18

-5.7%
WBC Westpac Banking Corp

$24.17

-$3.03

-11.1%
WDC Westfield Group

$12.44

-$0.48

-3.7%
WES

Wesfarmers Limited

$27.95

-$1.34

-4.6%
WOW Woolworths Limited

$26.94

-$0.16

-0.6%
WPL Woodside Petroleum

$43.08

-$2.32

-5.1%

The Wrap

To say that last week was a turbulent week for the markets is an understatement. The debt crisis in Greece weighted down on the markets spooking investors from all corners of the globe who are concerned that this may be Version 2.0 of the “sub-prime” fiasco experienced in 2007 & 2008.

The Australian market experienced its third successive week of declines.

Banks
ANZ finished down 9.5% to $21.90
CBA finished down 9.4% to $53.00
NAB finished down 12.2% to $24.58
WBC finished down 11.1% to $24.17

Resources
BHP finished down 8.0% to $37.50
RIO finished down 9.9% to $64.98
Woodside Petroleum down 5.1% to $43.08

The next few weeks could be quite volatile for the stock market as the current crisis is played out. (As we go to print the EU have announced a ?650b rescue package for Greece and other EU nations struggling with debt, this will surely have some positive impact on the market this week).

 

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