•  ASX 200 drifts 33 points to 7206 (0.5%) lower in thin lacklustre trade ahead of RBA tomorrow. Banks slipped slightly with the Big Bank Basket down to $184.49 (0.5%). NAB launched a new $1bn hybrid falling 0.5%. MQG fell 0.6% and MFG got whacked 13.9% as FUM continues to slip. PTM joined in down 2.8% with GQG off 0.3%. Insurers flat as healthcare saw a gain in CSL of 0.7% with SHL under fire down 2.4%. Industrials were mixed, TCL fell 1.3%, WES rose 0.6%, WOW up 0.5% and TLS down 0.8%. Tech stocks slipped again following Nasdaq lower, WTC fell 2.3%, XRO off 1.5% and the All-Tech Index dropped 1.8%. Resources drifted lower too with no LME pricing to go over the last two session. UK back from celebrations today. BHP fell 0.9%, FMG down 0.3% and lithium stocks a little depressed, PLS down 0.8% and AKE off 1.8% on a production update. Energy stocks were a bright spot as oil hits US$120 on Saudi price rises to Asian customers. WDS kicked again up another 3.2% as the rerating continues. Coal stocks slightly higher, WHC up 0.7%. 
• In corporate news, TAH rose 5.3% as it settled with Racing QLD, MFG hit hard on FUM details, LNK fell 0.9% as ACCC delayed decision on takeover. 
• On the economic front, ANZ jobs ads today with a slight rise, MI Inflation gauge lifted 1.1% in May to be up 4.8% on a year ago. Asian markets better as China returns from holidays and 10-year yields steady at 3.49%. 

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