Marcus Today End of Day Podcast – Wednesday 12th October

ASX 200 closed 3 points to 6648 (0.04%) higher as banks rebounded led by BOQ and its results report. BOQ up 11.1% with CBA up 2.4% after its AGM and reaffirmed guidance. The Big Bank Basket rose to $173.33 (2.5%). WBC up 3.8% and ANZ running hot up 3.3%. Other financials flat with MQG down 0.1% and insurers flatlining too. Healthcare fell with CSL down 1.1% on its AGM comments, COH down 2.0% and RHC off 0.8%. Industrials pretty uninspiring with some gains in REITs as bond yields fell back a little. GMG up 0.5% and SCG up 1.9%. TLS flat after the AGM yesterday and the plan to sell 49.9% of InfraCo. Tech stocks mixed with WTC up 1.6% and XRO and CPU falling. The All-Tech Index falling 0.8%. Resources were a little weaker as iron ore stocks were sold off, BHP down 1.0% and FMG continuing to slide 2.8%. MIN down 3.7% on no decision yet on processing at Wodgina and iron ore falling in Asia. Oil and gas stocks fell with WDS down 1.9% and STO off 2.5%. Lithium flat and gold miners also out of the limelight. In corporate news, CRN ran 8.0% higher on media speculation of a merger with Peabody. Other coal stocks also made gains. QPM rose 16.7% after a deal with GM and IGO up 0.7% as its partner reported high grade lithium at Mt Alexander. On the economic front, plenty of chat from Matt Comyn from CBA at AGM and consumer sentiment continues to slip. In Asian markets, Japan unchanged HK down 2.0% though China down 1.4%. 10-year yields falling to 3.95%.
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