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The COB from ausbiz
After a strong start to February, profit taking set in on the local market today.
Season 1, Ep. 26
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After a strong start to February, profit taking set in on the local market today. Early gains evaporated as the session progressed. Losses were led by utilities and REITs, hit by a continued move higher in longer dated bond yields. The major index ended down 0.8%. Ahead of Commonwealth Bank's first-half report tomorrow, financials also gave back ground with the sector closing down 0.7%. Materials and energy were the relative outperformers, buoyed by higher commodity prices in the overnight session...
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