End of Day Report – Wednesday 12 November: ASX 200 down 19, CBA falls again | ALL and 360 lower on results
Description
The ASX 200 slipped again by 19 points to 8800 (0.2%) as CBA continued to weigh, off another 3.1% with the Big Bank Basket down to $279.76 (-1.6%). Joining in the casualty list were 360 off 13.1% on disappointing numbers and ALL down 7.5% as it came up lemons. Our dismal tech sector continues to slide as XRO head lower still, off 2.2% and WTC down 0.8%. REA fell 2.5% and CAR down 1.0%. Industrials were ok, TCL up 0.5% and WES gaining 0.7% with COL and WOW better, TLS gained another 0.4%. GYG continue to be wrapped lower, down 2.0% and TPW also fell hard today, off 4.4%.
In resource land, iron ore improved in Asian trade, BHP up 0.6% and RIO sprinting 2.3% ahead. Gold miners were modestly better, NST up 1.4% and EVN up 2.0%. Lithium stocks better, LTR up 6.1% on its new auction platform, MIN roared 9.2% ahead on selling part of its lithium business to POSCO. LYC slid 2.7% with uranium stocks weaker. Oil and gas stocks better with WDS up 1.4%. Coal stocks weaker.
In corporate news, FLT rose 1% on an earnings update, NWL fell 0.4% after surviving a protest vote at the AGM, MP1 resumed trade after capital raising. A1N dropped 9.7% on much weaker ad revenue. DMP rose 1.8% after an AGM update.
In economic news, investor loan numbers, in Asia hopes for more Chinese stimulus helped iron ore prices higher.
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