By Kaye,
Trading for blondes
National Australia Bank (NAB) cut its forecasts for Australian growth, and expects unemployment to rise to around 5.75 per cent this year and they’ve predicted the Central Bank will cut rates by more than previously thought in 2013.They expect the RBA [Reserve Bank of Australia] will start to cut rates in March and shave about 75 basis points off the key cash rate over 2013. NAB was among the winners on Friday closing at $25.57, up 14c.
The best performing stock was Mesoblast (MSB) rising over 9% and closing at $5.74.
The worst performing stock was Sydney Airport (SYD) falling over 5% to close at $3.08
Gold is around US$1673 an ounce, up $24 over the week.
The Aussie dollar had another good week and ended up at $1.058.
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