{"id":62300,"date":"2013-08-10T13:48:08","date_gmt":"2013-08-10T03:48:08","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/08\/10\/australian-stocks-what-happened-today-146\/"},"modified":"2013-08-10T13:48:08","modified_gmt":"2013-08-10T03:48:08","slug":"australian-stocks-what-happened-today-146","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/08\/10\/australian-stocks-what-happened-today-146\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"
By Ashley Jessen<\/div>\n
\n

9 August 2013 ASX Market Summary – Invast Financial Services<\/strong><\/p>\n

Gold, Silver, Platinum and Copper provided an interesting heartbeat to today’s market on open, following a lacklustre trading session in the US, but early gains faded quickly as the market waited for key figures coming out of China. Today we saw the S&P\/ASX 200 fall 9.6 points or 0.19% to close at 5055.2 on turnover of $3.3 billion.<\/p>\n

The Materials sector was the stand out performer, rising a hefty 1.64% on an otherwise lacklustre trading day. The Utilities sector was the only other sector in the black, managing a small 0.36% gain. 11 sectors were unable to make it into positive territory with the Industrials and Telecommunications sectors the hardest hit, falling 0.97% and 0.91% respectively.<\/p>\n

Looking over the charts<\/strong><\/p>\n

Given the recent lack of volatility, the call the S&P\/ASX 200 must be for consolidation between the most recent high at 5116 and the recent low at 5007 and until we get some life back into the market it almost seems destined to track between these levels. Today was essentially an inside day with low volatility with the morning session selling off quickly until support was found at 5025. The remainder of the session saw the market grind away slightly higher and pick up 30 points from the low leaving little direction for those looking to hold over the weekend.<\/p>\n

S&P\/ASX 200 Gainers and Losers<\/strong><\/p>\n

St Barbara ((SBM)) jumped 6.82% but remains clearly stuck in a narrow range off the back of a long term downtrend and will have to have many more days like today before it breaks out of this downtrend and above resistance sitting at $0.75. Lynas Corporation ((LYC)) was almost identical in price action, jumping 6.67% but also coming off the back off a long term downtrend and a shorter term consolidation.<\/p>\n

Top 5 gainers:<\/p>\n

ST BARBARA +6.82%
\nLYNAS CORPORATION +6.67%
\nFORTESCUE METALS GROUP ((FMG)) +5.53%
\nIRESS ((IRE)) +5.20%
\nPERSEUS MINING ((PRU)) +4.95%<\/p>\n

Transfield Services ((TSE)) recently hit a double top around the $0.97 level and today sellers pushed the price down 4.89% and will need to hold on to these levels if it is to break out of the current medium and long term downtrend. Flight Centre ((FLT)) has had a volatile week, falling 8.2% with today’s loss amounting to 4.42% and closing below previous support around the $43 mark to finish the session at $42.40.<\/p>\n

Top 5 Losers:<\/p>\n

TRANSFIELD SERVICES -4.89%
\nFLIGHT CENTRE -4.42%
\nFAIRFAX MEDIA ((FXL)) -3.77%
\nTEN NETWORK HOLDINGS ((TEN)) -3.57%
\nDISCOVERY METALS ((DML)) -3.57%<\/p>\n<\/div>\n

 <\/div>\n
Reprinted with permission of the publisher.<\/em> Content included in this article is not by association the view of FNArena (see our disclaimer<\/a>).<\/em><\/div>\n
 <\/div>\n
Author's Disclaimer:<\/em><\/div>\n
\n
\n

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 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

Invast Financial Services (ABN: 48 162 400 035) is regulated by ASIC (AFSL No. 438 283)<\/em><\/p>\n<\/div>\n<\/div>\n

\"\"<\/p>\n

\nTechnical limitations<\/strong><\/em><\/p>\n

If you are reading this story through a third party distribution channel and you cannot see charts referred to<\/em>, we apologise, but technical limitations are to blame.<\/em><\/strong><\/p>\n

Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A wrap of the day’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\/62300"}],"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=62300"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62300\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}