Well, the Boomers gave Aussie basketball fans a small glimmer of hope at the Olympics today, going up 41-26 before the mighty USA squad laid the smackdown for a comfortable victory.

Elsewhere, hopes are fading that NSW has even half a chance of getting on top of its COVID-19 outbreak, as the Delta variant races all over the state. Victoria is set for a snap one-week lockdown as well after new cases emerged.

With plenty of news about, it was a flat session at the big end of town as the ASX200 finished 0.11% higher.

The mining sector gave back yesterday’s gains as the ASX200 Materials index fell by 1.3%, but the big banks helped drag the index higher as the ASX200 Financials index rose by 0.68%.

There were also gains for the consumer sectors (discretionary and staples) as Australia’s major east coast markets remain stuck at home indefinitely.

BIG CAP WINNERS

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Among stocks with announcements, gains were led by government software company Objective Corp (ASX:OCL), which released its FY21 investor presentation this morning.

The $1.6bn company flagged net profits after tax of $16m on revenue of $95m, as it posted its seventh straight year of growth in subscription revenues which rose to $70m.

The company works with over 1,000 government organisations, as well as financial services firms such as big banks and super funds.

BIG CAP LOSERS

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Fortescue Metals (ASX:FMG) led the laggards with a 3.4% drop, as the stock fell back from recent highs amid a broader selloff in the resources sector.

In afternoon trade, the company advised that it has suspended some operations Cloudbreak mine site to carry out testing after a worker on-site in the the last week of July returned a positive COVID-19 result.