Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

Big gas wakes in fright to falling oil

Tuesday 26 July 2016

Dalian dills are bidding again today for no reason but big iron remains sober with BHP down -0.4%, RIO 0.7% and FMG 0.2%:

The 58% iron ore discount is still hovering around 16% and FMG is yet to pop:

Big gas has woken in fright with the falling oil price as WPL is hit -1%, OSH -1%, ORG -3% and STO -3.2%:

The STO bubblet is moving fastest:

Others to follow.

The gold correction is clearing its throat with NCM -3.4%, RRL 0.8%, IGO -3.4%, SBM -5.6% and EVN -1.9%:

Still looking for a more complete capitulation.

The banks are still firm with CBA 0.2%, WBC flat, NAB 0.2% and ANZ 02%:

A big day for them tomorrow with the CPI.

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.