ASX 200 flat; ANZ partly recovers from profit warning; Magellan shares dive; travel stocks soar on border news

Sharemarket closes steady after sharp intraday fall on US futures slippage, ANZ margin warning. Investors dump Magellan after Hamish Douglass takes 'medical leave'. GrainCorp jumps on bullish guidance.

Traders are waiting for a flurry of earning reports this week including from ANZ and Jamies Hardie. Picture: Nikki Short/ NCA NewsWire.

Welcome to the Trading Day blog for Monday, February 7. ASX ends steady following sharp intraday fall as resources jump and ANZ partly recovers from margin warning. Magellan falls 11 per cent as Hamish Douglass takes "medical leave".

The S&P/ ASX 200 finished 0.1 per cent lower at 7110.8.

The Dow Jones Industrial Average closed down 0.1 per cent on Friday, while the S&P 500 finished up 0.5 per cent and tech-heavy Nasdaq added 1.6 per cent thanks to a boost from Amazon.

Iron ore traded 0.4 per cent higher to $US146.6 a tonne. The US Nymex crude price also edged higher, up 0.2 per cent to $US92.46 a barrel.