The S&P/ASX200 closed lower Wednesday, dropping 20 points or 0.3% to 7,417.
The S&P/ASX200 closed lower Wednesday, dropping 20 points or 0.3% to 7,417. Weak overnight leads and flat oil prices played out across the banking and energy sectors and materials were weighed down heavily by the big iron ore miners on falling futures in Dalian (where I used to live). And on China, August economic activity came in weaker than expected, key suppliers BHP Group (BHP) and Rio Tinto (RIO) ending the session 3.5% and 1.9% lower. Shares in AGL Energy (AGL) struck a record low, down 7.3%. AMP Limited (AMP) also touching a fresh intraday low, ending 1.5% weaker. Happiness, though for Pilbara Minerals (PLS), a cracking overnight digital auction for garden variety spodumene. Great prices for low grade lithium, the stock closing up 8.9%. A sign of things to come?
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