Market Wrap - Week Ending Friday 13th July 2007

We saw the market move higher looking to retrace its highs of June.  Most of this was on the back of the strong move by BHP hitting a high of $39.90.

We also saw RIO make a bid for Alcoa at what the market considered to be to a high price, with RIO falling back on Friday.

The financials stayed steady with some losing a little more ground.

What will happen this week is anyone’s guess… We’re still looking for a pull back in the market and still happy to take some profits especially on BHP and look for value in the market.

One stock which fell back on good news was Woolworths, this now looks like a buying opportunity. Read here to find out more about Woolworths.