{"id":62307,"date":"2013-08-12T17:55:21","date_gmt":"2013-08-12T07:55:21","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/08\/12\/australian-stocks-what-happened-today-147\/"},"modified":"2013-08-12T17:55:21","modified_gmt":"2013-08-12T07:55:21","slug":"australian-stocks-what-happened-today-147","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/08\/12\/australian-stocks-what-happened-today-147\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"
By Ashley Jessen<\/div>\n
\n

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

Corporate reporting season is now in full swing across the full spectrum of Aussie stocks with a number of the leaders having reported already, including Telstra ((TLS)), Rio Tinto ((RIO)) and JB Hi-Fi ((JBH)). Uninspiring US markets showed no reason to be optimistic but commodity prices were very buoyant on Friday night, fuelling a handy 53.5 point gain or 1.05% on below average volume of $3.3 billion.<\/p>\n

Materials stocks took a handy shot to the arm, rising an impressive 2.84% off the back of healthy gains across the futures markets including Gold, Silver and Crude Oil on Friday night. Industrials also had a healthy lift, rising 1.67%. Only one sector was unable to break into positive territory with the Health Care sector failing to get into the black, falling 0.70%. Utilities happened to be the 2nd worst performer but still managed a small gain of 0.42%.<\/p>\n

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

Buoyant market action saw our market close on its highs but remain within the current short term trading range despite getting close to previous resistance levels and more importantly closing above the 5100 mark. Technically we can see the price action forming a higher low, which is a bullish sign, and now we wait for the following through with the potential lookout to break through and close above the 5116 mark.<\/p>\n

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

Cudeco ((CDU)) shares jumped dramatically off the back of a couple of announcements hitting the market with the shares improving 18.73% and touching on previous resistance at $1.90 but was unable to close above that level. Evolution Mining ((EVN)) shares have never really made it to the biggest winners and losers and today’s debut entry sees the price up a staggering 18.71% as it formed a higher low and closed on its high and more importantly, close above previous resistance at $0.875.<\/p>\n

Top 5 gainers:<\/strong><\/p>\n

CUDECO +18.73%
\nEVOLUTION MINING +18.71%
\nSILVER LAKE RESOURCES ((SLR)) +12.77%
\nPANAUST ((PNA)) +10.31%
\nATLAS IRON ((AGO)) +9.84%<\/p>\n

Aurora Oil & Gas ((AUT)) was the worst performer on the ASX 200 but was down a minimal 2.45% on low volume so nothing to concern anyone at this stage. New News Corporation ((NNC)) also had a fairly average trading session and despite being the second worst performer for the day was only down a token 1.96%.<\/p>\n

Top 5 Losers:<\/p>\n

AURORA OIL & GAS -2.45%
\nNEW NEWS CORPORATION -1.96%
\nTELECOM CORPORATION OF NEW ZEALAND ((TEL)) -1.72%
\nBURU ENERGY ((BRU)) -1.66%
\nCALTEX AUSTRALIA ((CTX)) -1.59%<\/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\/62307"}],"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=62307"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62307\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}