ASX edges down even as banks, energy climb

The laggards

Consumer discretionary companies dropped 1 per cent and staples fell 0.8 per cent. Wesfarmers (down 1.9 per cent), Treasury Wine Estates (down 2.3 per cent) and supermarket giants Woolworths and Coles (both down 0.6 per cent) all declined.

Shares in Qantas dropped 2.2 per cent despite the company forecasting a record underlying pretax profit of up to $2.48 billion in the 2023 financial year.

Sonic Healthcare (down 3 per cent) and Fisher & Paykel Healthcare (down 2.1 per cent) also weighed on the index.

The lowdown

Shaw and Partners senior investment adviser Adam Dawes said it was a quiet day for markets on Tuesday, but there were some movements in the healthcare space.

“There was a swing in CSL after UBS put a buy out on the stock,” Dawes said. “On the other hand, UBS put a sell rating on Sonic Healthcare.” Generally, Dawes added, stocks move when

Read the rest
Read More