End of Day Report – Monday 8 July: The ASX200 has started the week on a negative note.

The ASX200 has started the week on a negative note. Finishing down 59 points (-0.76%) to 7763 as the Materials and Energy sell-off continued into the close. The big miners were the biggest drag on the index as iron ore dropped 1.2%. High Chinese inventories to blame. BHP, RIO and FMG all down between 2.1% and 2.6%. Most other mining commodity stocks also fell, last week’s bounce very short-lived. Lithium, copper and uranium in the red. Gold put on a good show following Friday’s bond yield drop and the first quarterly production numbers. RED up 5.3% (up 9% at best), EVN up 2.5%. Oil stocks lost ground after a good performance last week. KAR and WDS down 3.5% and 1.8%.

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