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Australian shares down 0.7pc; US recession likely in 2023: NAB, iron ore futures plunge; UBS downgrades Bega; PointsBet secures $94.2m investment. Follow updates here.
ASX 200 drops again, Westpac falls, Transurban down fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.
ASX closes 0.7pc higher; City Chic shares at record
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Vesna Poljak
The S&P/ASX 200 Index closed at 6,643.1 points up 43.5 points or 0.66 per cent on Wednesday.
Mesoblast rallied 9 per cent to $2.37 on no apparent news, Smartgroup almost 8 per cent to $6.78 following an earnings upgrade, and GUD more than 5 per cent to $12.41.
Cooper Energy fell 4.1 per cent to 35¢.
BHP Group fell 1 per cent to $42.45, Rio Tinto was down 0.49 per cent to $114.85 and Fortescue Metals Group lost 1¢ to $23.47.
Westpac was flat at $19.56, Commonwealth Bank rose 0.9 per cent to $83.18, National Australia Bank rose 0.2 per cent to $22.98 and ANZ Banking Group added 0.8 per cent to $23.10.