End of Day – Tues 8 Feb

• The ASX 200 rallied hard today from the word go. The ASX 200 up 76 points to 7187 (1.1%). BHP was the stand-out up 3.7% as iron ore futures pushed higher on China stimulus hopes. BHP was 26 index points alone. FMG up 3.3% and RIO doing well up 2.2%. Other miners also recovering nicely, S32 up 1.0% and AWC up 1.5%. Oil and gas stocks modestly higher with WPL up 1.0%. Banks were the other big winners taking their cue from MQG up 3.9% on its record quarter and SUN up 5.5% on better numbers. ANZ saw some broker upgrades rising 1.5% and the Big Bank Basket up to $170.84. CSL bouncing 0.9% post the SPP finishing and dragging FPH higher and COH up 1.0%. Industrials a little more wishy washy with staples weaker, WOW off 1.6% and WES down 1.0%. TCL did well up 0.9% and REITS also better driven by positive results as GMG up 0.1% and SCP up 3.2% on good numbers. Tech under pressure as SQ2 fell 6.3% on the Block fall in the US, CPU also under pressure down 2.4%. The All-Tech Index fell 0.9%. 
• In corporate news, MQG breaking records, SUN cut dividend but beat estimates, NAN rejigged its GE deal and fell 4.8% and PBH had their first punter in Pennsylvania, falling 4.2%. Must have lost. 
• In economic news, business confidence fell slightly, and consumer confidence dropped below 100. 10-year yields smash through 2% to 2.09% as two-year yields rally hard too. Asian markets mixed, China down 2.1%, Japan up 0.3% and HK off 1.6%. 

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