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The COB from ausbiz
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It was a good start to the week, with banks and resources - houses and holes - keeping the market buoyant. In contrast, a surge in bond yields ate into tech stocks. Lithium and food-related stocks were back in the spotlight today. Iluka Resources, AVZ Minerals and Washington H Soul Patts put on a good show for investors. Today’s laggards were largely tech-related names like Xero and Tyro Payments, the sector closed down 1.6% in the end. The wooden spoon went to uranium darling Paladin, down over 5%. Overall, it was a decent day in equities, outperforming the broader region, and despite the decimated bond market. Only a last minute sell button smash saw the S&P/ASX200 close only 6 points higher or 0.1%.
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