{"id":62172,"date":"2013-07-16T17:16:33","date_gmt":"2013-07-16T07:16:33","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/07\/16\/australian-stocks-what-happened-today-129\/"},"modified":"2013-07-16T17:16:33","modified_gmt":"2013-07-16T07:16:33","slug":"australian-stocks-what-happened-today-129","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/07\/16\/australian-stocks-what-happened-today-129\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"<div>By Ashley Jessen<\/div>\n<div>\n<p><strong>16 July 2013 ASX Market Summary &ndash; Invast Financial Services<\/strong><\/p>\n<p>Mildly positive US markets gave traders the hope of a reasonable start but shortly after the open the market drifted into a 15-20 point range, barely able to stay in positive territory, finishing the day up 4.9 points or 0.09% on below average volume.<\/p>\n<p>Given today&rsquo;s flat market, it wasn&rsquo;t a surprise to see no clear leaders among the sectors with all sectors ranging between +0.48% to -0.70%. Telecommunications stocks and Financials led the way with both pull 0.48% and 0.37% respectively. Failing to move into positive territory were the Consumer Discretionary, down 0.70% and Energy stocks, down 0.40%.<\/p>\n<p><strong>Looking over the charts<\/strong><\/p>\n<p>Consolidation continues on the S&amp;P\/ASX 200 as buying volume dries up with little activity among the sellers. Today&rsquo;s dojo star formation is a good indication of the indecision behind the current market participants, as they look for signals of clear bullish or bearish opportunities. Currently we have a number of traders sitting on the sidelines as they wait for a solid continuation of the upside move or the potential of a move lower.<\/p>\n<p><strong>S&amp;P\/ASX 200 Gainers and Losers<\/strong><\/p>\n<p>Paladan Energy ((PDN)) managed a nice breakout of its recent consolidation to close up 7.29% with triple the average daily volume, off the back of a record full year production report, which was up 20 percent on the previous year. Envestra ((ENV)) shares managed a healthy 6.32% move higher thanks to a potential merger proposal by the biggest owner of natural gas pipelines, APA Group ((APA)).&nbsp; As a result, shares of Envestra hit the highest price since August 2007.<\/p>\n<p><strong>Top 5 gainers:<\/strong><\/p>\n<ul>\n<li>PALADIN ENERGY +7.81%<\/li>\n<li>ENVESTRA +6.32%<\/li>\n<li>WOTIF.COM HOLDINGS ((WTF)) +3.48%<\/li>\n<li>TOLL HOLDINGS ((TOL)) +2.99%<\/li>\n<li>AUSDRILL ((ASL)) +2.48%<\/li>\n<\/ul>\n<p>Perseus Mining ((PRU)) shares took a nosedive today, falling 21.97% following their quarterly activity report with the shares fast approaching their last line of support around the $0.44 &#8211; $0.50 mark. McMillan Shakespeare ((MMS)) also took a turn for the worse due to potential changes to the FBT (Fringe Benefits Tax) as the government looks to make changes to offset the scrapping of the carbon tax. Shares were down 14.67% with all of the steady gains achieved over the last 2 months being wiped out.<\/p>\n<p><strong>Top 5 Losers:<\/strong><\/p>\n<ul>\n<li>PERSEUS MINING -21.97%<\/li>\n<li>MCMILLAN SHAKESPEARE -14.67%<\/li>\n<li>AUTOMOTIVE HOLDINGS GROUP ((AHE)) -7.28%<\/li>\n<li>MAGELLAN FINANCIAL GROUP ((MFG)) -6.56%<\/li>\n<li>TREASURY WINE ESTATES ((TWE)) -6.07%<\/li>\n<\/ul>\n<\/div>\n<div>&nbsp;<\/div>\n<div><em>Reprinted with permission of the publisher.<\/em> <em>Content included in this article is not by association the view of FNArena (see our <a href=\"http:\/\/www.fnarena.com\/index2.cfm?type=dsp_webht\">disclaimer<\/a>).<\/em><\/div>\n<div>&nbsp;<\/div>\n<div><em>Author&#039;s Disclaimer:<\/em><\/div>\n<div>\n<div>\n<p><em>CFDs are high risk derivative products and may not be suitable for all investors. You can lose more than your initial deposit and there is a credit risk. Please read the PDS on our website at <a href=\"http:\/\/www.invast.com.au\/\">invast.com.au<\/a> and decide whether CFD trading meets your investment objectives, needs and situation before trading. We recommend you seek independent advice.<\/em><\/p>\n<p><em>Invast Financial Services (ABN: 48 162 400 035) is regulated by ASIC (AFSL No. 438 283)<\/em><\/p>\n<\/div>\n<\/div>\n<p style=\"text-align:center\"><img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Invast_Orange_Circle_RGB_email-small.jpg\" style=\"height:132px;width:132px\" \/><\/p>\n<p>\n<em><strong>Technical limitations<\/strong><\/em><\/p>\n<p><strong><em>If you are reading this story through a third party distribution channel and you cannot see charts referred to<\/em>, <em>we apologise, but technical limitations are to blame.<\/em><\/strong><\/p>\n<p><em>Find out why FNArena subscribers like the service so much: &quot;<a href=\"http:\/\/www.fnarena.com\/index4.cfm?type=dsp_newsitem&amp;n=29EB960D-9DFF-C00E-7F6B464E5D52E250\">Your Feedback (Thank You)<\/a>&quot; &#8211; Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A wrap of the day&#8217;s activity on the Australian stock market.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62172"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=62172"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62172\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}