Australian Stocks: What Happened Today?

Array
(
    [0] => Array
        (
            [0] => ((TLS))
            [1] => ((RIO))
            [2] => ((JBH))
            [3] => ((CDU))
            [4] => ((EVN))
            [5] => ((SLR))
            [6] => ((PNA))
            [7] => ((AGO))
            [8] => ((AUT))
            [9] => ((NNC))
            [10] => ((TEL))
            [11] => ((BRU))
            [12] => ((CTX))
        )

    [1] => Array
        (
            [0] => TLS
            [1] => RIO
            [2] => JBH
            [3] => CDU
            [4] => EVN
            [5] => SLR
            [6] => PNA
            [7] => AGO
            [8] => AUT
            [9] => NNC
            [10] => TEL
            [11] => BRU
            [12] => CTX
        )

)

List StockArray ( [0] => TLS [1] => RIO [2] => JBH [3] => EVN [4] => BRU )

By Ashley Jessen

12 August 2013 ASX Market Summary – Invast Financial Services

Corporate reporting season is now in full swing across the full spectrum of Aussie stocks with a number of the leaders having reported already, including Telstra ((TLS)), Rio Tinto ((RIO)) and JB Hi-Fi ((JBH)). Uninspiring US markets showed no reason to be optimistic but commodity prices were very buoyant on Friday night, fuelling a handy 53.5 point gain or 1.05% on below average volume of $3.3 billion.

Materials stocks took a handy shot to the arm, rising an impressive 2.84% off the back of healthy gains across the futures markets including Gold, Silver and Crude Oil on Friday night. Industrials also had a healthy lift, rising 1.67%. Only one sector was unable to break into positive territory with the Health Care sector failing to get into the black, falling 0.70%. Utilities happened to be the 2nd worst performer but still managed a small gain of 0.42%.

Looking over the charts

Buoyant market action saw our market close on its highs but remain within the current short term trading range despite getting close to previous resistance levels and more importantly closing above the 5100 mark. Technically we can see the price action forming a higher low, which is a bullish sign, and now we wait for the following through with the potential lookout to break through and close above the 5116 mark.

S&P/ASX 200 Gainers and Losers

Cudeco ((CDU)) shares jumped dramatically off the back of a couple of announcements hitting the market with the shares improving 18.73% and touching on previous resistance at $1.90 but was unable to close above that level. Evolution Mining ((EVN)) shares have never really made it to the biggest winners and losers and today’s debut entry sees the price up a staggering 18.71% as it formed a higher low and closed on its high and more importantly, close above previous resistance at $0.875.

Top 5 gainers:

CUDECO +18.73%
EVOLUTION MINING +18.71%
SILVER LAKE RESOURCES ((SLR)) +12.77%
PANAUST ((PNA)) +10.31%
ATLAS IRON ((AGO)) +9.84%

Aurora Oil & Gas ((AUT)) was the worst performer on the ASX 200 but was down a minimal 2.45% on low volume so nothing to concern anyone at this stage. New News Corporation ((NNC)) also had a fairly average trading session and despite being the second worst performer for the day was only down a token 1.96%.

Top 5 Losers:

AURORA OIL & GAS -2.45%
NEW NEWS CORPORATION -1.96%
TELECOM CORPORATION OF NEW ZEALAND ((TEL)) -1.72%
BURU ENERGY ((BRU)) -1.66%
CALTEX AUSTRALIA ((CTX)) -1.59%

 

Reprinted with permission of the publisher. Content included in this article is not by association the view of FNArena (see our disclaimer).