The ASX200 has been down around 0.33% at 8,291 points in mid afternoon trade.
In a note out today, Morningstar predicts a broad rebound in retail spending on the back of larger workforce, higher wages and tax cuts. The company’s director of equity research Johannes Faul says sales of electronic and non essential goods have already ticked up.
To the sectors. All sectors bar one are in the red and IT and Utilities are the worst performers – both down around 1%, followed by Energy and Health Care, both down around 0.7%.
Company News
Evolution Mining (ASX:EVN) has been up 4.9% on the release of its first quarter update. The company beat consensus forecast with gold production of 193,500 ounces for the quarter.
Evolution Mining has been $4.92.
Kaiser Reef (ASX:KAU) has been up more than 6% today after pivoting into a new mode of operating with an untapped gold zone called ‘Nova’ hit by drillers.
Kaiser Reef has been trading at 17.5 cents.
TG Metals Ltd (ASX:TG6) has been up 13.3% able to produce spodumene concentrate grading 6.31% lithium oxide (Li2O) through DMS (Dense Media Separation) processing. The preliminary results are from its metallurgical testwork on the Burmeister deposit in WA.
TG Metals has been 17 cents.