S&P/ASX 200 ends flat as banks, miners fade; business confidence falls

The ASX 200 closed flat after an early jump. Lockdowns, Covid restrictions delivered a major blow to business confidence. AustralianSuper CEO to step down.

China’s liquidity boost has lifted global markets. Picture: David Swift

Welcome to the Trading Day blog for Tuesday, July 13. The ASX 200 rose at the open and was holding gains, but is fading into the afternoon session. Wall Street edged higher to new records ahead of earnings season.

European markets also closed higher but oil prices retreated following two days of gains. Base metals were generally lower, iron ore gained and gold slipped.

Lockdowns and Covid restrictions appear to have delivered a major blow to business confidence.

In the US, consumer prices for June are expected to be released, where annual core inflation is forecast to accelerate to 4%.

Originally published as S&P/ASX 200 ends flat as banks, miners fade; business confidence falls

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