Brexit pause offers ASX respite

Big iron is up today following a 5 point rise in Dalian futures with BHP 0.7%, RIO 0.8% and FMG 2.5%. The last appears bid if the wind blows at the moment despite selling ore at huge discounts and a rough H2 in prospect:

Big gas has lost belief despite an oil rally during the day. WPL is -0.5%, OSH -1.5%, ORG -1% and STO -0.2%:

Unsurprisingly, gold miners are taking profits today after a wild night with NCM -0.8%, RRL -3%, IGO 0.5%, SBM -9.6% and EVN -3.2%:

Finally, banker are again stroking the dead cat with CBA 0.6%, WBC 0.9%, NAB 1%, ANZ 1%, BOQ 0.8%, BEN 1.6% and MGQ 1.7%:

Avagoodweekend.

Share

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.