The ASX 200 lost a mere 12 points to 8617to finish the week down 2.6%. Banks pushed higher led by NAB with the Big Bank Basket back up to $299.06 (+1.1%). Insurers also better as rate rose, SOL up 1.5% and MFG continuing to find friends on the merger deal, up another 3.4%. PNI dropped 4.3% and RPL down 5.2% on another biotech investment blowing up. Industrials were a little better, WES managed a 0.8% rise, ALL up 1.2% and TLS rose 1.4%. Healthcare mixed, RMD falling 0.5% and RHC up 1.0%. Tech was mixed too, WTC eased 0.8% but XRO rose 2.6% and the All-Tech Index unchanged.

In resources, BHP fell 2.3% as its standoff in China continues, RIO and FMG doing well on the back of higher iron ore prices, gold miners slipped, not helped by NST crashing 18.8% on production woes. Oil and gas stocks muted with coal slightly firmer and uranium generally a little better, DYL up 1.0%.

In corporate news, IMM fell 88.6% after its Phase III trial was abandoned. QAN reached a settlement for $105m for CV19 related cases. WGX announced the completion of its sale of two projects. NST fell hard on a production downgrade due to milling issues at the Super Pit. LIC rallied as US-based prefab giant Hometown America bought a stake at 490c. EOS up 18.4% after it revealed $US45m ($64 million) in new defence orders, including a major Middle East contract for its Slinger weapon system.

Nothing on the economic front. US PCE index tonight. 10-year yields steady at 4.95%. Asian market weaker on oil prices, Japan down 0.8%, HK down 0.4% and China flat. Korea KOSPI down 1.9%. WTI Oil down 0.4% in Asia.

US Futures: DJ up 128, Nasdaq down 1.

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