ASX 200 slips 22 points to 7468 (-0.3%) on higher-than-expected CPI. Turnaround from solid open as CPI came in above expectation at 7.8% highest since 1990. Resources slid a little with BHP off 1.0% and RIO down 0.7% with quarterlies dominating and gold miners sliding lower. SBM collapsed on quarterly down 21.4%, lithium slightly better in places, IGO up 0.3% and MIN falling 2.2% on delays at Mt Marion. Energy stocks slipped, WDS off 1.2% despite record production numbers, STO down 1.6% and WHC off 1,4%. Banks better on higher yields, CBA up 0.7% and NAB better by 0.5%. The Big Bank Basket up to $188.58. MQG better and insurance stocks gaining on yields. QBE up 1.0%. REITs slipped with GMG down 0.7% and SCG off 1.0%. Tech down, WTC unchanged on an acquisition. XRO under pressure down 2.8% and the All-Tech Index down 1.3%. Healthcare down too, CSL off 0.6% and RHC off 1.0%. In corporate news, NWS and Fox will not be merging, ALX down 0.2% on pre-CV19 trends, US lithium company Albemarle lifts lithium demand by nearly 15%. In economic news, CPI up 7.8% in highest jump since 1990. Analysts go back to the drawing board with 40bps suggested by some in Feb. Asian markets still celebrating Lunar New Year although Japan up 0.5%. 10-year yields up to 3.50%. Dow futures down 89 points. NASDAQ futures down 92 points.
Why not sign up for a free trial? Get access to expert insights and research and become a better investor.
Popular Podcasts
CrimeLess: Hillbilly Heist
It’s 1996 in rural North Carolina, and an oddball crew makes history when they pull off America’s third largest cash heist. But it’s all downhill from there. Join host Johnny Knoxville as he unspools a wild and woolly tale about a group of regular ‘ol folks who risked it all for a chance at a better life. CrimeLess: Hillbilly Heist answers the question: what would you do with 17.3 million dollars? The answer includes diamond rings, mansions, velvet Elvis paintings, plus a run for the border, murder-for-hire-plots, and FBI busts.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.