Marcus Today End of Day Podcast – Monday 17th October

 ASX fell hard from the open closing down 94 points at 6664 (1.4%). All sectors eased but resources and iron ore especially bore the brunt. BHP down 2.3%, RIO off 2.6% and FMG falling 1.2%, not helped by Xi’s speech over the weekend on CV19 Zero. Gold miners fell hard too despite AUD bullion prices rising yet again as the AUD hovered around 62c. NCM down 1.8% and NST off 4.0%. Base metal miners also on the nose, IGO falling 1.6% after the MD died on the weekend unexpectedly. Lithium stocks in demand with PLS pushing 2.1% higher and LTR and CXO having a good day out, both in the top performers on the day. Record high prices in China. Oil and gas stocks fell after crude falls on Friday although Asian oil slightly higher at least. Coal stocks also took a breather. Banks were weak but outperformed, the Big Bank Basket falling to $177.71 (0.6%), CBA down 0.8% and MQG dropping 4.2%. Insurers also stumbled lower as QBE fell 4.1% and IAG up 1.6% despite announcing a buy back post the court win last week. Other financials fell, ASX down 1.4% and MFG falling yet another 2.5%. Healthcare slid as CSL updated the market on Vifor, falling 1.3% with RHC down 1.7%. Industrials sagged as ABC collapsed 22.0% on a bad update, CGC fell 13.4% on citrus issues and TLS fell 1.3%. Tech drifted only slightly lower, which was a result given Nasdaq falls, CPU off 1.2% and the All Tech Index down 0.3%.

In corporate news, TYR looks like WBC has joined the game, up 8.7%, CXO rallied 5.2% as the MD is moving on sooner rather than later, NWS up 3.6% on Fix merger talk and SRX fell 13.7% on a production and cost update.

Nothing on the economic front. Asian markets slightly lower, 10-year yields at 4.03% again.

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