Manage episode 375196725 series 2991632
ASX 200 finished the week down 67 points to 7115 (0.9%). Down 33 points for the week. Results the focus. Weakness across the board on the back of the US sell-off. Banks brought back to earth with a bump, the Big Bank Basket down to $173.12 (-1.1%). NAB down 1.8%, with MQG off 0.8%. Insurers also fell hard as QBE dropped 1.6% and IAG off 3.2% on ASIC news. Fund managers also in the dumps. Healthcare mixed, RMD up 0.6% and CSL down 0.2% on director selling. RHC falling again. REITs soft SGP off 1.2% and SCG down 1.5%. Industrials mixed, WES results cheered with the stock up 3.2%, WOW ok too up 0.9%, but elsewhere selling dominated. TCL off 1.1%, ALL down 1.5% and REA falling 1.4%. Tech under pressure, WTC gave back 4.8%, with XRO down 3.3%. The All-Tech Index down 1.2%. MP1 gave back some gains too. In resources, BHP hit hard down 1.7%, RIO off 0.9% and MIN off 1.4%. FMG down 0.6% with PLS off 8.0% on results that disappointed apparently. Gold miners eased, coal stocks under pressure and oil and gas stocks down. WDS off 1.3%, and STO off 1.2%.
In corporate news, AX1 had a great day, proving the retail critics wrong up 17.1%, ABB had a good result up 11.0%, CBO sold a lot of olive oil and rose 5.3%. PXA fell 6.0%.
Nothing on the economic front, some death data to cheer us up the exception. Asian markets under pressure, Japan down 0.9%, HK down 1.1% and China down 0.8%. 10-year yields 4.16%. Dow Futures up 63 points. Nasdaq Futures down 10 points.
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