Australian banks Australian LNG Australian Shares Commodities Iron ore price

Big iron hangs on as Dalian sinks again

Thursday 5 May 2016

It’s hope time today on the ASX after yesterday’s shellacking as Dalian falls another -3% but big iron hangs on. BHP is the exception -2.2 on Samarco but RIO is 0.7% and FMG flat:

Big gas is also up as oil rebounded a little this morning with WPL 0.6%, OSH 0.3%, ORG 3%, STO 1.3% and LNG 1.3%:

Big banks are trying to look strong on NAB’s result but mostly failing with CBA flat, WBC 0.4%, NAB 2.8%, ANZ 1.3%, BOQ 05%, SUN -0.3%, BEN -0.5%, MQG 1.8%:

All feels pretty nervous.

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.