Thanks afternoon crew.
End-of-day summary:
The share market unwound most of last week's advance as the materials sector slumped to an eight-month low and high-flying banking stocks took a breather.
The ASX 200 dropped 62 points or 0.8%. The benchmark put on 72 points last week after the Reserve Bank left the cash rate unchanged.
Further falls today in iron ore, copper, gold and other metals helped push the materials sector down almost 1.1% to its lowest since late November. Notable falls included Deep Yellow, Evolution Mining and Boss Energy. The financial sector eased 0.57% from Friday's record close.
The week ahead brings May inflation data on Wednesday that could tip the RBA towards another unwelcome rate rise. Alternatively, a decline could put to bed lingering doubts that this hiking cycle is not yet over.
- Forums
- ASX - Day Trading
- Day traders' after-market lounge June 24
Thanks afternoon crew. End-of-day summary: The share market...
-
- There are more pages in this discussion • 16 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)