the COB 011223

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The local market started December in the red, with 9 of the 11 sectors on the S P/ASX 200 Index closing lower. The Index fell 0.2% to 7,073 points. • Tech stocks followed losses on Wall Street amid higher bond yields. The IT sector fell 1.18% locally. • Industrials was today's best performing sector. It rose 0.91% over the past five days. • The energy sector finished slightly higher despite a fall in the price of oil overnight as traders expressed disappointment at the OPEC+ output cuts. • In stock specific news, Peter Alexander owner Premier Investments (PMV) rose 3.56% after the retailer forecast stronger than expected earnings. • Coles (COL) fell 1.04%. The consumer watchdog has approved plans by the supermarket giant to purchase milk facilities from Saputo. • Lithium giant Pilbara Minerals (PLS) closed steady. AustralianSuper has established a 5% stake in the miner. Also in the space, Core Lithium (CXO) fell 1.82% after Citi downgraded the stock. • The Australian dollar finished the session at US66.08C amid expectations authorities in China will provide more stimulus to shore up growth. A private survey on the nation’s manufacturing sector contrasted to official data released yesterday, with the Caixin survey showing factory activity expanded in November to a reading of 50.7. • Join 90,000 investors who use ausbiz for investing ideas and opportunities. Get the full experience live, on-demand and free at https://ausbiz.com.au/. When you subscribe you can tailor your content to your interests - by company, expert, topic and series. • Subscribe to our newsletter: https://company.ausbiz.com.au/newsletter • Twitter: / ausbiztv • Facebook: / ausbiztv • #asx #sharemarket #stocks #ausbiz #shares #investing #equities #hotstocks #stockpicking #marketwrapup

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