Iron ore prices have lifted to the highest point since February, so will this spark a good run for the miners?

MARKET WRAP:

• ASX200: down 1.02% to 8,668
• GOLD: $3,364/oz
• BITCOIN: $182,070

 

• Commbank & ANZ both lost 2.5%, Westpac was down 3.6%, while NAB was 2.4% lower.
• Insignia Financial was also on the slide, down 6.2% to $3.93 after it told investors talks were ongoing with CC Capital.
• While other big fallers included Aristocrat, Pro Medicus and Coles.
• AMP delivered a positive quarterly super net cashflows for the first time since 2017. Shares finished almost 10% higher to $1.68.
• Block – the owner of BNPL service Afterpay – saw its shares soar over 11% after news that it would be added to the S&P 500 Index.
• Iron ore futures climbed to over $104 US a tonne sent BHP, Fortescue and Rio Tinto all climbing

CURRENCY UPDATE:

• AUD/USD: 65.2 US cents
• AUD/GBP: 48.4 British pence
• AUD/EUR: 56 Euro cents
• AUD/JPY: 96 Yen
• AUD/NZD: 1.09 NZ dollars

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