Not a great start to the week, the ASX 200 is down 112 points (-1.7%), to 6647. All sectors are trading lower. Gold is the worst sector today, with the gold price down 1.4%. REITs and the banks are outperforming but still lower. Technology is down across the board; the All-Tech Index is down 1.0%. The resources sector is taking a hit following the Chinese GDP downgrades and iron ore struggles. Endeavour Group (EDV) is up 1.2%, following a first-quarter trading update. Costa Group (CGC) is down 12.6%, after issuing a trading update due to adverse weather conditions. CSL Limited (CSL) is down 1.7%, following a trading update, including an update on Vifor. AdBri (ABC) taking a hit down nearly 20% as inflationary pressures and a strong AUD hurt outlook.
Anyone who has been in broking will tell you that the Morning Meeting is how all brokers start the day. The format is to have a quick look at the overnight markets, consider what's coming up in the day ahead, hear from the analysts, share ideas and get set up for the day's stock market activity.
