Market Wrap / banking on the cloud

The S&P/ASX 200 continued to slide from record highs, down 0.27% to 8,956.80 points this Tuesday.

Consumer discretionary was the worst-performing sector, lower by 1.3% as Westpac's Consumer Sentiment Index declined to a six-month low.The mining sector had a better session, with the Department of Industry quarterly report lifting its iron ore price forecast by 10%. Rio Tinto was up 0.5%, also on a plan to develop new iron ore deposits in Western Australia.Some profits were taken amongst the gold miners, but Greatland Gold rose to a record high on a positive quarterly update. The energy sector also lost some ground, on reports of an expected fall in LNG export earnings. This hurt Woodside, 0.6% lower today. 

Elsewhere, the ASX fell to a nearly 16-month low down 1.4%, considering its competitor Cboe has received approval for local listings.