End of Day Report – Tuesday 22 July: ASX 200 up 9 | CBA crashes again, resources back

The ASX 200 finished up 9 points to 8677 as the initial rally fizzled out. More the sellers turned up in spades for the banking sector again. CBA crushed 3.1% with the Big Bank Basket down to $272.11 (-2.6%), under serious pressure again as the money flowed to resources. BHP up 2.6% and RIO charging ahead up 3.4%. Gold miners also back in demand, NST up 1.3% and NEM rising 2.8%. Lithium stocks on pause as were rare earths, LYC down 0.1% and graphite stocks taking a breather. SYR fell 9.3% and NVX off 0.8%. Oil flat and uranium falling a little. The industrials were flat, WES off 0.8% and BXB down 0.9% with SGH putting on the Ritz up 1.3%. Healthcare doing well as CSL hit a 4-month high, up 3.4% with PME up 2.1%. REITs firmed, tech better, XRO up 0.6% after SPP pricing period finishes, WTC up 1.4% and the All-Tech Index up 0.2%. In corporate news, IFL rose 12.2% as CC Capital agreed a 480c cash scheme. PPT up 0.7% on restructure plans.

In economic news, RBA minutes continued to show caution and gradual moves.  Consumer confidence fell 0.2% last week to 86.3 points, according to the ANZ-Roy Morgan Consumer Confidence index, as households were less optimistic about financial conditions.

Asian markets mixed, Japan down 0.3% after holiday. HK up 0.5%. China up 0.8%.

10-year yield eases to 4.30%

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