The ASX 200 closes down 20 at 7417 (0.3%) after early losses were recouped. Banks slid with the Big Bank Basket off to $182.95. Healthcare doing well, bouncing back from losses yesterday led by CSL up 1.4% and RMD up 1.8%.
Industrials too were firm with REITs and other interest rate sensitive stocks better. Even TCL rose 0.4% despite being pregnant with news. Resources and energy stocks weakened with the exception of ‘green resource’ stocks in uranium and lithium. Crazy times and moves in both sectors, LTR up 7.5%, PLS hitting records up 8.4% and PDN up 7.9%. In corporate news, CXL rewarded the true believers with its announcement today of a US investor taking 7% of LEILAC for $24.5m, the stock rose 39.7%, MYE fell 18.1% after an incident and UWL was quietly 0.5% better after the insider trading issues were clarified.
On the economic front, Westpac-Melbourne Institute Consumer Confidence Index for September rose 2% to 106.2. China’s retail sales grew 2.5% in August, far slower than 7% expected. Industrial production growth was also slightly below expectations, up 5.3% in August versus predictions of 5.8% growth.
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The ASX 200 closes down 20 at 7417 (0.3%) after early losses were recouped. Banks slid with the Big Bank Basket off to $182.95. Healthcare doing well, bouncing back from losses yesterday led by CSL up 1.4% and RMD up 1.8%.
Industrials too were firm with REITs and other interest rate sensitive stocks better. Even TCL rose 0.4% despite being pregnant with news. Resources and energy stocks weakened with the exception of ‘green resource’ stocks in uranium and lithium. Crazy times and moves in both sectors, LTR up 7.5%, PLS hitting records up 8.4% and PDN up 7.9%. In corporate news, CXL rewarded the true believers with its announcement today of a US investor taking 7% of LEILAC for $24.5m, the stock rose 39.7%, MYE fell 18.1% after an incident and UWL was quietly 0.5% better after the insider trading issues were clarified.
On the economic front, Westpac-Melbourne Institute Consumer Confidence Index for September rose 2% to 106.2. China’s retail sales grew 2.5% in August, far slower than 7% expected. Industrial production growth was also slightly below expectations, up 5.3% in August versus predictions of 5.8% growth.
Do you love this podcast? Sign up for a free trial of the Marcus Today newsletter to get full access to daily stock tips and recommendations.