The ASX 200 started positively to fade to a loss of 21 points to 8454 (0.3%). Banks showed weakness with more slippage as the Big Bank Basket fell to $264.08 (-1.3%) CBA off 1.3% and ANZ down 2.0%. MQG continues to slide, down 1,4% and HUB off 1.1%. GQG is enjoying a rare moment in the sun, up 9.1% as it is pursuing an anti-AI tilt. Insurers eased, REITs were slightly firmer, GMG bouncing back 1.1% and VCX up 2.0%. Industrials were mixed again, ALL up 0.8% and LNW gaining 4.4%. Retailers fell, TPW down another 2.3%. GYG continues to suffer, off 4.3%, DMP down 0.2% as the shorts move back in. Tech found some bargain hunters, WTC up 0.4% and TNE stumbling around. Unchanged in the end.
In resources, we saw a rebound in BHP and FMG, gold miners were back with bullion up to $6280 and EVN up 2.0% with GMD up 2.9%. Lithium stocks paused, rare earth stocks rose, Oil and gas stocks rose, WDS up 1.2% and uranium stocks modestly better.
In corporate news, DRO, down 19.6%, shot out of the air as its US head left in a hurry. WJL got a 90c NBIO offer from Helloworld, NUF soared 10.8% on stronger guidance and KMD rose 2.1% on Q1 sales.
In economic news, wage growth came in as expected at 3.4%.
Asian markets quietly mixed with Japan up 0.1%, China up 0.2% and HK down 0.5%.
European markets set to open weaker.
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