End of Day Report – Monday 7 July: ASX 200 down 14 | ORG shines, NST heads south

ASX 200 drifted 14 points lower to 8589 (0.1%).  CBA held up with the banks drifting slightly lower. The Big Bank Basket is down to $280.46 (-0.2%). Financials firmed in places, IFT up 3.1% and NWL rising 1.5%. REITS soft with GMG down 0.5% and SCG off 0.8 %. Industrials mixed, SGH up 1.0% with QAN rising 1.0% with retails slightly firmer as RBA looks to cut tomorrow. ORG was a standout up 6.8% on an Octopus update from the UK. In resources, Gold miners took a hit with production and costs weighing on NST, off 8.7%. Other golds follow lower with the bullion price off too. EVN down 2.2% and OBM falling 6.8%. Lithium once again depressed, PLS off 4.3% and LTR falling 5.3%, shorts back and selling. Uranium stocks mixed, BOE down 2.4% and DYL up 0.9% with coal better, Oil and gas mixed, WDS off 0.8% and STO up 0.4%. In corporate news, S32 down 0.6% on news of the sale of its Cerro Matso nickel project. MIN fell 2.0% as it named two new independent directors. 

Nothing on the economic front. Asian markets eased with Japan down 0.6%, China down 0.5% and HK off 0.3%.

10-year yields rising to 4.19%.

Want to invest with Marcus Today? The Managed Strategy Portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you.

If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.
 
 Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.