Marcus Today End of Day Report -Tuesday 18th May

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ASX 200 closes up 42 points at 7066, off highs but firm none the less. Resources led the charge with commodity price rises in base metals and gold dragging buyers in. OZL rose 6.4%, BHP up 1.8% and FMG up %. DEG rallied 4.6% with banks also doing well although CBA flat lined. The other three had 1.5% days whilst MQG recovered 2.3% as NXL reaffirmed guidance and rose 11.5%. SBM fell 9% on a production update and JHX lost 4.5% after warning of inflation pressures. RBA minutes failed to excite and once again reiterated inflation is transitory.