Markets @ Midday: Listen Here
Stocks pulled back today with 70% of the ASX 200 down and all sectors finishing in the red. Results continue to flow and there is clearly some caution around what comes next from an economic perspective – stocks that have been strong leading into updates at most risk given elevated expectations.
- The ASX 200 finished down -39pts/ -0.53% at 7490
- The Industrials sector was the best relative performer (-0.10%) while Communications (-0.15%) & Consumer Discretionary (-0.18%) also outperformed.
- Utilities (-2.73%) and Property (-1.62%) the weakest links.
- AGL Energy (AGL) -10.33% hit on a weak 1H result and downgrade to full-year guidance
- Mirvac (MQR) -4.58% had a good 1H, better than expected but failed to upgrade FY23 guidance as some expected.
- Elders (ELD) +1.36% bounced back after they released an investor presentation.