Manage episode 307249950 series 2991632
The ASX 200 dropped 50 points to 7405 (0.7%) with selling across the board on RBA minutes and commodity weakness. Banks were soft as yields pushed a little higher. CBA down 0.3% and NAB off 0.6% with the Big Bank Basket under pressure at $188.08 down 0.3%. Other financials and resources also wavered with MQG off 0.3% and MFG falling another 3.0%. Healthcare in ICU today with RMD down 2.9% and CSL losing 0.8% and RHC off 0.6% on NHS issues with CV19 cases in UK hurting sentiment.
Industrials eased but no real damage WES fell 0.6% and ALL off 0.9% with REITS slipping slightly and Tech mixed. APT rose 1.7% following Square higher and XRO fell 0.2% and WTC off 0.4%, the All-Tech Index up 0.1%. Miners also under water led lower by BHP down 2.6% and RIO down 2.2% as iron ore slipped again in China. Gold miners came off the boil and base metal stocks like IGO and OZL slightly weaker.
In corporate news, TLS fell 1.3% after its investor day and plenty of AGMs around. CXL up 11.20% on CEO comments, IMU gained 3.5% on a clinical trial supply agreement and WPL dropped 0.8% as the CFO jumped ship to NCM. Sign of the time perhaps. The 10-year yield modestly higher at 1.82% on Governor Lowe’s comments on rate rises at a slow pace and certainly not next year.
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