{"id":62314,"date":"2013-08-13T20:54:08","date_gmt":"2013-08-13T10:54:08","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/08\/13\/australian-stocks-what-happened-today-148\/"},"modified":"2013-08-13T20:54:08","modified_gmt":"2013-08-13T10:54:08","slug":"australian-stocks-what-happened-today-148","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/08\/13\/australian-stocks-what-happened-today-148\/","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

Neutral market action in the US and Australian business confidence hitting an 8 month low could not dent the confidence of the bulls as our early consolidation led to strong buying activity to close out the session, with the S&P\/ASX 200 rising 49 points or 0.95% to close at 5157.7 on volume of $3.8 billion.<\/p>\n

Health Care stocks rebounded from yesterday’s lack lustre performance to post a solid 2.81% gain with the shining light coming from Primary Health Care ((PRY)), which rose 5.17%. Industrials put in a solid performance as well, rising 1.81%. Only one sector managed a negative result with Utilities falling 0.74%. The next worst performer was the Telecommunications sector but it was still able to remain in the black, rising 0.25%.<\/p>\n

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

Yesterday we spoke about the importance of a follow through session off the back of a strong day yesterday and this is the first solid follow through since the 11th of July this year. Not only were we able to break through immediate resistance but the strength of the day can be seen in the S&P\/ASX 200 closing on its highs for two straight days. Consolidation early in the day was met with euphoric buying activity to close the session out and might even be enough to convince the sceptical bears that our market is destined to go higher in the short and medium term. Immediate resistance is sitting at and above the 5200 mark.<\/p>\n

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

St Barbara ((SBM)) has fought back gallantly from recent lows to finish the day up 13.86% on double average volume but is fast approaching key resistance between the $0.60 & $0.70 levels. Bradken ((BKN)) had an incredible day rising 12.40% on triple the average volume despite reporting a 33% fall in earnings, which was clearly unable to deter the bulls.<\/p>\n

Top 5 gainers:<\/p>\n

ST BARBARA +13.86%
\nBRADKEN +12.40%
\nMCMILLAN SHAKESPEARE ((MMS)) +12.20%
\nAUSDRILL ((ASL)) +11.69%
\nBOART LONGYEAR ((BLY)) +10.19%<\/p>\n

REA Group ((REA)) was unable to maintain the momentum gathered over the last 2 months and in particular yesterday’s strong breakout, as it retreated 4.37%. FKP Property Group ((FKP)) hit the same low price for the third consecutive day with the market closing on its lows and finishing down 4.05% but bulls may be comforted to know if the price can hold these levels then it will form a new higher low.<\/p>\n

Top 5 Losers:<\/p>\n

REA GROUP -4.37%
\nFKP PROPERTY GROUP -4.05%
\nBILLABONG INTERNATIONAL ((BBG)) -3.17%
\nDUET GROUP ((DUE)) -3.14%
\nSTOCKLAND ((SGP)) -2.89%<\/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\/62314"}],"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=62314"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62314\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}