Could commodities crack ⛏️
The ASX 200 couldn’t quite crack the 7,000 mark, we did finish off the day's lows but ended up with a 0.3% fall to finish at 6,975. Nine of eleven sectors finished lower, with consumer stocks the big laggards. IT was the leading light, jumping 2.4%. Pinnacle Investment Management was the star performer, rallying 12% after the company reported full-year earnings which beat market expectations (check out our interview with CEO Ian Macoun). Novonix also rallied 8.4% and Tyro Payments added 9.62%. As far as the losers go, ASX shares dropped 3.6% after pushing back the date of its updated CHESS rollout (again) to late 2024. Centuria Industrial REIT also dipped after its update. Star Entertainment Group fell by 3.7%. Turning to the night ahead, ISM Services PMI will be the latest business activity read to give a pulse check on the US economy.
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