ASX 200 lost 16 points to 7426 (0.2%) in lacklustre trade dominated by M&A activity in LNK, ABC and PSQ. Monday M&A day ahead of Xmas break. Banks drifted lower with the Big Bank Basket unchanged at $188.20. Insurers suffered as yields fell again, QBE down 0.6% and SUN off 1.8%. Fund managers lower with REITs under pressure, GMG up 0.1% and VCX down 2.4%.  Industrials weaker, TLS off 0.9% with staples easing, WES down 0.5% and WOW down 0.7%. Tech held up on lower rates, WTC up 0.1% with the All-Tech Index up 0.2%. Resources mixed, PLS up 1.3% and AKE running 1.7% higher ahead of the vote this week, Iron ore miners mixed, Oil and gas faltered, WDS down 0.3% and STO falling 1.6%. Gold miners flat and coal mixed. In corporate news, LNK had a bid from Mitsubishi, up 27.0%, ABC saw the Barro Group bid 320c in cash, up 31.3% and PSQ also saw a NBIO rally 18.0%. ZIP fell 2.4% on a funding package. TAH up 23.1% after saying it would keep its Victorian wagering and betting business. SGP fell 3.6% after announcing a deal to buy 12 LLC communities. Nothing substantive on the economic front. Asian markets weaker, Japan down 0.9% China down 0.2% and HK off 1%%. 10-year yields fell again to 4.07%.

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