The COB from ausbiz

A rare down day for the local market, at least in recent times. The S&P/ASX 200 slipped 0.21%, closing trade at 7112.8. The performance mirrored that of Wall Street and most of the Asian region. Blackmores needed an urgent dose of vitamin C, tumbling 10.4% following the release of its full-year results. Codan, Evolution Mining, Origin Energy and ASX also suffered earnings-related prangs, slumping between 4% to 10.1%. There were some big winners, however. IPH Limited soared 15.5% after its full-year results, taking out top gong for the session. It was closely followed by NRW Holdings, Treasury Wine Estates and IRESS which rose 5.8%, 4.1% and 2.2% respectively. On the macro level, there was little reaction to a mixed Australia’s jobs report, reflecting that the underlying backdrop remain much the same: conditions are tight and wage pressures are building. The market is fully priced for a 40-pointer from the RBA in September. 

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