Marcus Today End of Day Report -Thursday 8th July

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ASX 200 closes up 15 at 7341 (0.2%) after early gains evaporate as Sydney numbers climb. Banks turned negative with the Big BankBasket down to $179.17. MFG slipped 3.9% on a broker downgrade and Z1P rose 13.7% after media reports of a potential substantial shareholding of around 4% from rival Klarna. Tech stocks mixed as XRO fell 0.4% with APT up 3.0% with the All-Tech Index up 1.1%. Miners were a bright spot with BHP up 1.8%, FMG up 0.7% and gold miners sliding.  In economic news, RBA governor Lowe has admitted in a speech that high immigration has hurt wage growth and highlighted the importance of achieving sustained full-employment “in the low 4s.” 10-year yields fell to 1.33%.  Dow futures down 92.