End of Day Report – Tue 18 Jan

• The ASX fell 9 points to 7409 (0.1%) in cautious trade, flip flopping around from positive to negative as banks fell in the PM session. The Big Bank Basket fell to $180.36 (0.2%) with CBA leading the falls as a broker downgrade, the stock off 0.4% with NAB also down 0.1%. MQG joined in the slight sell off falling 0.4% and insurers also slid, MPL down 2.3% and IAG down 1.6%. Healthcare too under a little pressure as CSL slipped 1.6% towards the SPP price, COH down 1.6% and FPH off 1.3%. 
• Industrials mixed, WES down 0.4%, ALL down 1.1% and TLS better by 0.2% with REITs unchanged. Tech was slightly better despite APT falling 0.7%. The All-Tech Index up 0.6%. In the miners, BHP rose 1.2% ahead of the crucial vote, whilst energy and base metal stock went sideways. Lithium remained in demand following a quarterly report from AKE and RIO had their quarterly today. 
• In other corporate news, JBH showed its category killing power with a decent trading update moving 6.9% higher and DTL also doing well up 14.5% on a strong 1HFY22. The RBL burst today after a nasty business update with margins under pressure and sales of masks down, the stock tumbled 22.4% and IKE rallied 17.7% on its trading update although as usual volume was light. 
• On the economic front, consumer confidence not unexpectedly fell hard on omicron woes in early January and international arrivals and departures rose to levels not seen since March 2020. In Asia, Japan down 0.1%, Hong Kong down 0.1% and China up 1.1%. 10-year yields at 1.95%.

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