Ya win some, ya lose some 🏆
Bear market bounce? Winning streak? Whatever it was, it’s over with the benchmark index putting in a soggy hump day performance, mirroring that of the broader region. Most sectors finished in the red. There was some offset with financials, energy and staples adding between 0.1% to 0.3%. While there was no rhyme or reason to explain the sectorial performance, there was a clear tilt towards quality with the S&P/ASX 20 easing 0.4% while the S&P Small Ordinaries tumbled 2.7%. The larger they are, the softer they fall? At the individual level, Liontown Resources topped the scoreboard, rising 6.1% after announcing an offtake agreement with Ford and approval of new mine which will be partly funded by the automaker. Star Entertainment wasn’t far behind, climbing 2.8% after announcing Robbie Cooke will join as CEO. His current employer, Tyro Payments, didn’t fare so well, slumping 17.2%. Ya win some, ya lose some. The S&P/ASX 200 slid 0.94%, falling 63.4 points to close at 6700.2.
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