The market gave up its early mining-led gains in the last two hours of trading yesterday, and this morning the mood was also fairly sombre to begin with. The Trader Nicole Elliott points out that a "blistering" $21bn Treasury Bill auction priced US paper at a maximum yield of 2.066 per cent - the lowest since February.
IC TIP UPDATES:
Recent IC buy tip Mondi (MNDI) posted decent third-quarter numbers, with underlying operating profit of €221m 27 per cent up on last year but 13 per cent lower than in the second quarter. That reflects the impact of maintenance shut-downs that are expected to cost €90m in underlying profit for the full year. Buy.