Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

ASX Brexit love-in sours

Wednesday 6 July 2016

It had to happen. Brexit is not a reason to buy. Dalian is off a few more points after last night’s big reversal and BHP is following it down -3.8%, RIO -2.1% and FMG -2.5%. The last has so far to fall it makes me giggle:

Big gas is also hit hard with WPL -0.5%, OSH -1.7%, ORG -5.4% and STO -3.5%:

Big gold has its ears pinned back with new highs everywhere. NCM is 3.9%, RRL 6.2%, IGO 5.6%, SBM 6.9% and EVN 7.2%:

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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.