Market Wrap / tit-for-tat

Additional levies on Canadian, Mexican, and Chinese imports saw the local market follow Wall Street lower.The S&P/ ASX 200 closed down 0.7% to 8,141.1 points, although the the miners relatively buoyed by China’s GDP ambitions.

During its annual National People’s Congress, China reaffirmed its yearly economic growth target at roughly 5%, with the deficit expected to climb to 4%. BHP and Rio managed to gain 0.2% and 0.3% respectively, with both stocks trading ex-dividend tomorrow. 

Amid negative sentiments, the banks brought the market down and CBA receded 0.9%. 

The consumer staples sector also suffered from brand names Woolworths and Coles trading ex-dividend. Coles was leading the losses down 4.4%. 

Elsewhere, Clarity Pharmaceuticals received a boost from its clinical trials advancements which sent the stock 3.4% higher. 

Tomorrow, China’s NPC will enter its second day, while locally Woodside, Medibank and Lovisa are among companies trading ex-dividend.