End of Day Report – Monday 23 June: ASX 200 drops 31 | CBA at record helps

Market Updates

ASX 200 fought back to close down only 31 points at 8475 (0.4%). Banks once again the swing factor as , with gold miners sold off despite geopolitical rose 1.0% and the Big Bank Basket better at $284.86 (). Insurers better, QBE up 0.3% with REITs easing, VCX down 0.8% with other financials easing. MFG off 3.8% and ASX down 0.8%. Industrials weaker across the board. BXB off % with QAN falling 1.9% as oil rose, TLS fell 0.2% with ALL down 2.6% and retail under a little pressure. ADH fell 20.5% on disappointing sales, MTS rose 2.7% on better than expected food sales. Tech stocks eased but off lows, WTC down 1.0% and XRO down 0.2% with the All-Tech Index down 0.5%. Resources were weaker, the three iron ore miners slid, BHP down 1.6% and FMG off 1.0% with gold miners sold off despite geo polictical tensions. NST and EVN continuing to be rerate downwards. Oil and gas stocks muted, uranium stocks fell, BOE off 1.8% and coal stocks down, WHC off 3.5%. In corporate news, WDS agreed to supply Japan with winter LNG. SMP agreed to a scheme with Shift4 from the US. Nothing on the economic front today.

Asian markets muted on war worries. Japan down 0.2%, HK up 0.6% and China up 0.4%. 10-year yields rising to 4.21%.

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