Wednesday, January 2, 2013

ASX up after Fiscal Cliff avoided

Our market motored along today with the ASX 200 (XJO) adding 57 points or 1.2% and crashing through the 4700 barrier.  This followed news in the US that the senate had passed the bill that will ensure that they avoid crippling tax increases and so called 'Fiscal Cliff'.

Telstra Corporation (TLS) continued on it's way with a rolling high and close of $4.44 (up $0.07).  Resources stocks such as RIO, FMG and NCM all had a very good day.  The banks were slightly stronger.

In the small cap space Drake Resources (DRK) outperformed, up $0.05 or 25.6% to $0.245.  The stock was only $0.062 before Christmas.  On the flip side, Korab Resources (KOR) a stock I mentioned yesterday, suffered profit taking and was down $0.053 to $0.092.

1 comment:

  1. Hi,

    Today (Nov. 15, 2013) ASX ended on a strong positive note at 5,401.7 (+46.3 points or +0.9%) and banking stocks performed really well with gains ranging from 0.8% to 1.5%. Is it the effect of Janet Yellen's comments that boosted the confidence of investors? Please share your views with us.

    Best Regards,

    John Hussey