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1.Market Observations

29 July 2017 (AFR) – ASX: Freaky Friday sinks ASX ahead of reporting season

(29 July 2017, AFR, p33, by Jessica Sier)

‘Heavy selling in the big four banks dragged the market sharply lower on Friday to one of its worst performing days of the year, with analysts saying the negative sentiment is largely investors jostling ahead of next week’s reporting season. Shares enjoyed solid buying support until Thursday, with the ASX200 up almost 2 per cent, before investors scooped the profits on Friday and sent the benchmark S&P/ASX 200 Index tumbling 1.4 per cent, to 5702.8 points, and the All Ordinaries was down 1.3 per cent to 5755.2 points.  Over the week the ASX200 was off…’

Read more at AFR.com (might need AFR login access or try: AFR.com/trial)

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