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ASX Retreats from 6000 Point Mark

ASX Retreats from 6000 Point Mark
Apr 28, 2015 By Imran Valibhoy

The ASX was down 34.2pts, or .6 per cent, at 5948.5pts on Tuesday. The ASX soared on Monday after commodity prices rallied, closing less than 18pts from the 6000-point mark. But a day of significant losses across all sectors pushed the ASX away from the milestone marker. The Heath Care sector led the retreat, falling 1.98 per cent. The Energy sector retreated from its previous gains, falling .94 per cent. International markets were mixed in the previous day of trading. In the US, the Dow Jones was down .23 per cent and the S&P 500 was down .41 per cent. In Europe, the DAX jumped 1.93 per cent and the FTSE 100 was up .47 per cent. The Asian markets have flipped recent trends. The Nikkei 225 is now up .38 per cent near the end of trading on Tuesday, after following a temporary downward trend. The Chinese market has reserved its strong upward trend. The Hang Seng is down .25 per cent while the Shanghai Composite is down .66 per cent so far on Tuesday.

Aurizon Holdings (ASX:AZJ) was down 12c, or 2.4 per cent, at $4.88 per share. Australia’s largest rail freight company struck an 11-year deal with a Chinese-state owned miner.

Beach Energy (ASX:BPT) was down 3.5c, or 2.94 per cent, at $1.16 per share. Beach Energy’s revenue fell over 40 per cent in the first nine months of the financial year.

Blackmores (ASX:BKL) was up 20c, or .34 per cent, at $59.65 per share. Vitamin and supplement producer Blackmores posted a strong profit report on Tuesday. Group sales were up 28 per cent in the nine months up to 31 March 2015 compared to the previous corresponding period.

Northern Star Resources (ASX:NST) was up 11c, or 5.26 per cent, at $2.20 per share. Northern Star bucked the trend on the ASX on Tuesday after it recently announced it was debt free and on track to meet profit guidance earlier in the month.

Fortescue Metals (ASX:FMG) was down 12c, or 4.67 per cent, at $2.45 per share.

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Imran Valibhoy Author: Imran Valibhoy Apr 28, 2015

Since Joining the firm in 2006, Imran has worked on a range of M&A and Capital Market transactions in the natural resources, mining as well as projects in the renewable energy sector. Prior to joining Wise-owl, Imran worked at Euroz Securities in Perth, aiding in the advisory and valuation of companies in the mining and industrial sectors in Australia. Imran has a Masters in Banking & Finance from City University's Class Business School in London and a Bacheloor degree in Commerce from UWA.

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