Evening Market Commentary: Quiet Day


Evening Market Commentary: Quiet Day

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.

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