The risk, reward and the pump

Things went from bad to worse today, with the local market finishing the Tuesday session -0.67% at 7420. Let's start with the sin bin, Mesoblast gave up much of yesterday's gains closing down +8.2% by the end of the session. But it was the materials sector that proved the biggest weight overall, down 1.7% with Iluka the biggest loser after presenting at a mineral sands conference. Here's Shaw and Partners Martin Crabb with a view on why this market may limp to the end of the year. On the bright side, Chalice Mining ended up 3.7%, Virgin Money finished 2.6% and NextDC was up 1.8%.

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