Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

Shares struggle to bounce

Tuesday, 13 September 2016

Not much of a dead cat today for the ASX. Big Iron is rightly struggling as Dalian is only up a touch. BHP is 1%, RIO 0.8% but FMG is off again 4.3% after paying down some more debt:

Big Gas is worse, again rightly. The oil bounce is wrong. WPL is flat, OSH -1.8%, ORG -2% and a free-falling and soon to be equity raising STO -1.2%:

Big Gold has firmed with NCM 3.5%, RRL 3%, IGO 1%, SBM -0.7% and EVN 3.2%:

Big Debt has barely managed a smile with CBA still teetering right at the chart precipice -0.2%, WBC -01%, NAB-0.2% and ANZ flat:

It’s gunna break!

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.