Wednesday, February 21, 2007

Sharemarket falls due to profit takers

The bourse closed weaker yesterday as profit takers took some heat out of the market.
The ASX 200 index fell 37.9 points to 5951.8 while the All Ordinaries sank 36.1 points to 5933.3.
On the Sydney Futures Exchange, the March share price index contract closed 38 points lower at 5931, on a volume of 16,445 contracts.
ABN Amro Morgans private client adviser Kylie Macdonald said the market had pulled back, with weakness across the board - bar a few shining lights.
"We're seeing signs of some profit taking and some weakness creeping into the market," Ms Macdonald said.
"I think a lot of people have been calling the market as [getting] a little bit too hot too quickly, and we are seeing signs of that starting to unravel a little bit."
Among resource stocks, BHP Billiton fell 51c to $28.85, while Rio Tinto dipped $1.48 to $77.62.
Woodside, which posted a record $1.43 billion annual profit, jumped 46c to $37.63. Santos fell 11c to $10.05, while Oil Search was unchanged at $3.58.
Among the banks, CBA slid 10c to $50.40, NAB fell 12c to $40.50, and Westpac slipped 9c to $25.56.
Brambles fell 83c to $13.24, despite reporting a higher first-half net profit and pointing to strong profit growth in the second half.
Blood products maker CSL was a rare bright spot, rising $7.31 to $77.42 after booking a 46 per cent increase in first-half net profit and lifting its full-year forecast.
PBL fell 19c to $19.69 after its new media spin-off, PBL Media, announced the purchase of Channel Nine Perth.
Ten Network eased 7c to $3.38 and Seven rose 8c to $11.63.
Regional pay TV provider Austar jumped 11c to $1.33.

0 Comments:

Post a Comment

<< Home