Advertisement
It’s risk off today for big iron and gas after yesterday’s up beat reaction to what was clearly bad Chinese data. Northern Hemisphere markets saw the impact on commodities and rather sensibly sold. BHP is down -2.4%, RIO is down 1.9% and FMG is down -0.5% as investor hopes persist following the recent golden quarter for the doomed miner:
Dalian is up 2 points.
Big gas is also burning with WPL down -3.5%, OSH down -1.9% as it again rebuffs the takeover bid, STO is down 3.9% and ORG appears set to break down as it sits on its ex-rights issue price down -2.4%:
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.