Evening Market Commentary: Quiet Day
The Australian market ended slightly lower today, after a lacklustre night on international markets.
The sectors closed mixed, with materials, energy and consumer staples the biggest losers.
The big four banks supported the market, with all but Westpac (-0.1%) finishing in positive territory.
NAB and CBA were the best of the bunch, up 0.3% and 0.4% respectively.
The major miners were a drag, hurt by substantially weaker commodity prices overnight. BHP dropped 1.2%, whilst rival Rio Tinto declined 0.6%.
Goodman Group climbed 2.9% after ratings agency Moody’s upgraded the company’s credit rating as well as its changing its outlook to ‘stable’.
The ASX 200 let go of nine points (-0.2%), to settle at 4278.