Marcus Today End of Day Podcast – Monday 10th October

ASX 200 fell 95 points to 6668 (1.4%). Falls across the board with the only bright spot iron ore, RIO up 0.9% and FMG up 1.9%. Base metals fell slightly as PLS dropped 3.9%, S32 down 1.6% and IGO off 0.6%. A falling AUD helping the resource sector but no such luck for the gold miners with NCM off 4.0% and NST down 4.4%. Energy stocks failed to find buyers today with WDS down 0.7% and STO off 1.0%. Coal stocks also saw some profit taking as WHC slipped 4.7%. In the banks the Big Bank Basket fell to $170.08 (2.0%). CBA down 1.5% and MQG sliding 1.2% with ASX off 4.8% and MFG falling yet again another 4.1%. Healthcare down, CSL off % and industrials eased with REITs suffering from higher 10-year yields. GMG down 1.9% and SCG falling 1.9%. Tech followed Nasdaq lower with the Index down 3.0% and WTC off 2.3%.

In corporate news, JLG crashed 14.8% as the CEO sold 4m shares to buy a house in the US. PPH rose 4.9% on an increased bid speculation, TYR rose 1.7% after a business update.

Nothing exciting on the economic front. In Asia, China back and weaker following PMI numbers Saturday and lower spending during Golden Week, off the worst down only 0.9%, HK down 2.5% and Japan falling 0.7%. 10-year yields 3.90%.

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