Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please consider our Risk Disclosure Notice and ensure that you fully understand the risks involved.

ASX 200 afternoon report: 14th of February 2023

Find out all the latest information on the ASX 200 market. Updated as of 14th Februarty, 3.00 pm AEDT.

Source: Bloomberg

The ASX 200 trades 16 points (+0.22%) higher at 7434 at 3.00 pm Sydney time.

After sprinting out of the starting gates, the ASX 200 erased over 40 points of early gains after the Westpac Consumer confidence fell by 6.9% in February in response to last week’s hawkish RBA meeting and cost of living pressures.

As noted by Westpac, “At 78.5, the latest Index read is a touch above the 78 read in November but below the low point of the GFC (79.0) and only slightly higher than when the COVID pandemic first hit in April 2020 (75.6). Prior to that, we need to go back to the deep recession in the early 1990s to find weaker Index readings.”

Highlighting an apparent disconnect between a pessimistic household sector and the optimistic business sector, the NAB business Confidence survey released an hour later rose 6 points to 6 in January, to be back around the long-run average.

IT sector

The IT Sector has gained, led by a rebound in Megaport.

  • Megaport added 3.42% to $6.04
  • Wisetech Global added 2.3% to $56.62
  • Afterpay owner Block added 2.3% to $110.79
  • Xero added 1.7% to $78.17
  • Appen extended its decline following its earnings report yesterday, falling 6.76% to $2.62.

Healthcare sector

Healthcare heavyweight CSL gained 0.76% to $307.75 after its earnings report showed an 8% fall in net profit it $US1.62bn, offset by a 19% rise in revenues to $US7.19bn and a 36% increase in plasma collections.

Going the other way, Ansell fell 8.79% to $25.62 after it cut FY23 guidance as demand for its protective medical equipment continues to ease from pandemic highs.

Consumer Discretionary stocks

The share price of Star Entertainment which fell over 20% yesterday, fell another 12% today to $1.31 after reporting increased competition from Crown Sydney and compliance costs following the Bell and Gotterson Reviews.

Elsewhere there were gains for fellow consumer facing stocks including:

Financial sector

Reflecting on today's conflicting Consumer and Business confidence data, the big banks have had a mixed day.

  • NAB added +0.64% to $31.58
  • Westpac added 0.13% to $23.73
  • ANZ traded flat at $25.70
  • CBA fell 0.14% to $109.13.

Mining sector

The big mining stocks have traded sideways as iron ore prices continue to hold around $120 per tonne.

Technical analysis

For the past three weeks, we have suggested trimming longs in the ASX 200 ahead of a likely pullback. Last week’s retreat erased the prior two weeks’ gains and indicates that the pullback we had been calling for is underway (in the vicinity of 4-5%).

ASX 200 daily chart

Source: TradingView

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer.

Explore the markets with our free course

Learn how shares work – and discover the wide range of markets you can trade CDFs on – with IG Academy's free ’introducing the financial markets’ course.

Put learning into action

Try out what you’ve learned in this shares strategy article risk-free in your demo account.

Ready to trade shares?

Put the lessons in this article to use in a live account – upgrading is quick and easy.

  • Trade over 12 000 popular global stocks
  • Protect your capital with risk management tools
  • React to breaking news with out-of-hours trading on 70 key US stocks

Inspired to trade?

Put your new knowledge into practice. Log in to your account now.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.