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The Market Wrap with Tony Sycamore – Market Analyst, IG Australia

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The US Fed has kept interest rates on hold, so will investors look towards safety in the Australian banks while unrest continues?

MARKET WRAP:

  • ASX200: down 0.09%, 8523
  • GOLD: $3,368 US/ounce
  • BITCOIN: $161,897 AUD
  • Commonwealth Bank up 1.5% to $182.85
  • National Australia Bank rose 1.1%, with Westpac 1.8% higher, and ANZ up 0.3% per cent after announcing its retail boss would leave the bank.
  • Aristocrat rose 1.6% to $66.73
  • Cleanaway closed up 1.1% to to $2.73
  • Weaker Chinese data sent  iron ore majors lower, with BHP off 2% to $36.13 and Fortescue off 1.7% to $14.77.
  • Gold miners fell, with Evolution down 4.5% to $7.78
  • Utility stocks were also sold off as Origin and AGL both dipped 1.4%.
  • KMD Brands fell more than 3% to hit a record low of 25¢, 
  • WiseTech Global dipped 1.9% after announcing that two directors would exit the board.

CURRENCY UPDATE:

  • AUD/USD: 64.7 US cents
  • AUD/GBP: 48.2 pence
  • AUD/EUR: 56 Euro cents
  • AUD/JPY: 94 yen
  • AUD/NZD: 1.08 Dollars
 
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