AU Evening Wrap: ASX Recovers Losses to Trade Flat; Sims Plunges 11%

The $S&P/ASX 200(.XJO.AU)$ was down just 4.7 points, or less than 0.1 per cent, at 7152. The All Ordinaries was faring worse, down 0.14 per cent.

Tech stocks were the worst performing among the 11 sectors, down 1.8 per cent, with $WiseTech Global Ltd(WTC.AU)$ and $Xero Ltd(XRO.AU)$ down 1.2 per cent and 2.4 per cent, respectively.

Healthcare stocks were 1.4 per cent lower with sector heavyweight $CSL Ltd(CSL.AU)$ down 1.6 per cent after trading ex-dividend as of this morning.

Financials are helping to buoy the benchmark, with $ANZ Group Holdings Ltd(ANZ.AU)$, $CommBank(CBA.AU)$, $Westpac Banking Corp(WBC.AU)$ and $National Australia Bank Ltd(NAB.AU)$ all up around 1 per cent.

In company news, $Syrah Resources Ltd(SYR.AU)$ has jumped 7 per cent after the graphite producer secured a US$150 million ($234.6 million) loan for its Balama operation in Mozambique.

Scrap metal recycler $Sims Ltd(SGM.AU)$ has fallen 11.3 per cent. The company is now forecasting earnings to break even in the first quarter of FY24, due to ongoing scrap price and demand issues.

$Bendigo and Adelaide Bank Ltd(BEN.AU)$ was up 2.7 per cent. The bank has appointed current board member and former Suncorp CEO David Foster as its next chairman.

$Domino's Pizza Enterprises Ltd(DMP.AU)$ was down 2.1 per cent, following a $15.9 million block trade priced at $52.94 per share, according to data from Bloomberg.