End of Day Report – Tuesday 17 June: ASX 200 down 7, drifting around | Gold and uranium in focus

The ASX 200 dropped 7 points to 8541 (0.2%) as nerves crept back in on Iran/Israel issues. Trump flew back to Washington to handle the situation. G-7 now G-6. Banks slipped slightly, CBA down 0.2% and ANZ off 0.5%. The BIg Bank Basket down to $280.41(-0.2%). MQG slid 0.4% with REITs also lower except GMG up 1.1% and other financials mixed too. Industrials pretty much lower across the board, drifting rather than sold off, TCL off 0.8%, REA down 0.5% and TLS falling 0.2%. Retailers mixed, as were travel stocks. Tech wafting around too with the All-Tech Index up 0.2%. In resources, uranium and rare earths stocks back in the spotlight or should it be SPUT light, DYL up 5.7% and LOT up 11.4% with physical buying of spot and short covering still dominating. Gold miners recovered some of the losses yesterday on the Iranian uncertainty as bullion rose, NEM up 2.5% and NST recovered 1.5% after the UBS inspired sell off. Iron ore majors eased back as iron ore fell in Singapore trade again. Oil and gas stocks weakened slightly, STO up 0.5%. In corporate news, it was quiet, too quiet. Asian markets drifted around, Japan up 0.5%. HK off 0.5% and China unchanged.10-year yields steady at  4.25%.Want to invest with Marcus Today? The Managed Strategy Portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you. If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.  Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.