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Local shares had a volatile session, but bulls win the day

Announcement posted by de2 Communications 21 Jun 2016

21 June 2016: SYDNEY -- It was a fairly volatile session today but, when it was all said and done, the local bulls had managed to grind out another win.

“The gains weren't as hefty as yesterday, with strength in healthcare, financials, I.T. and industrials offset somewhat by weakness in energy, materials and telcos,” said Chris Conway, Head of Research at the Australian Stock Report.

The big four banks were mainly stronger with ANZ Banking Group (ANZ) the best of the lot, adding 1.6%. National Australia Bank (NAB) was the only loser, off 0.3%.

In the healthcare space, Resmed (RMD) was one of the best performers, adding 2.8%, whilst CSL Limited (CSL) and Cochlear (COH) also posted solid gains.

It wasn't all positive however, with Woodside (WPL) and Fortescue (FMG) amongst the worst performers in their respective sectors, down 3.5% and 3% respectively.

On the day the ASX 200 added 17 points (+0.3%) to settle at 5274.

The SPI was quite volatile in the afternoon session. The index retraced into 5205, off a high of 5240, before recovering back up to 5230 by the close.

Heading into the overnight session our overarching bias remains bullish, noting that the local bulls seem pretty keen to defend the 5200 region. 

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For more information visit:

http://www.australianstockreport.com.au/