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By Oliver Gray
Investing.com - The S&P/ASX 200 finished Monday’s session down 11.7 points or 0.2% at 7,146.3, reversing earlier gains and closing below 8-week highs as risk sentiment faded amid rising bond yields.
Among stocks, losses were led by Industrials as Transurban Group (ASX:TCL) fell 3%, Brambles Ltd (ASX:BXB) lost 1.7%, Reece Ltd (ASX:REH) fell 1% and Atlas Arteria (ASX:ALX) lost 1.5%.
Health Care retreated 2.1% overall as CSL Ltd (ASX:CSL) fell 2%, Sonic Healthcare Ltd (ASX:SHL) lost 2.3%, Fisher & Paykel Healthcare Ltd (ASX:FPH) dipped 2.6% and Resmed Inc (ASX:RMD) lost 3.4%.
Elders Ltd (ASX:ELD) also tanked plunged 22.9% following its annual results, while noting that chief executive Mark Allison would retire next year.
Meantime, Materials bucked the trend, lifting 3.4% as higher Iron ore and Copper prices boosted miners, with Rio Tinto Ltd (ASX:RIO) adding 3.3%, BHP Group Ltd (ASX:BHP) up 4.6%, Fortescue Metals Group Ltd (ASX:FMG) surging 10.1% and Champion Iron Ltd (ASX:CIA) rallying 12.9%.
On the bond markets, Australia 10-Year rates were at 3.772%, while United States 10-Year rates were at 3.895%.
In New Zealand, the NZX 50 was down 0.7% to 11,232.
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