Marcus Today End of Day Report -Friday 10th September

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ASX 200 up 37 points to 7407(0.5%).  Miners and resources doing well as BHP rose 0.8% and FMG put on 2.6%. Base metals following the positive leads from LME prices overnight, AWC up 6.3% and MIN better by 5.6%. Coking coal hits a five-year record of US$300, WHC up 2.7%. Industrials mixed with CSL off 1.0% and gains in some tech stocks helping. XRO up 2.6% and WTC doing well up 2.6%. The All-Tech Index up 1.1%.

Banks stable with CBA the best of the bunch up 0.5%. The Big Bank Basket at $182.78. MQG giving back some of this weeks’ gains down 0.6%.

In corporate news, STO and OSH have agreed on the merger terms, but the PNG government is proving a hurdle. AMA has launched a $150m capital raising with an entitlement issue and IRE has extended the Due diligence period for EQT. Citi is a little bearish on Z1P up 2.7% after a US visit on the brand change and MFG falls 1.9% on a broker downgrade. No economic news.

 

European futures opening stronger. US PPI tonight.