Marcus Today End of Day Podcast – Monday 24th October

ASX 200 closes up 103 points to 6779 (+1.5%). Big jump straight out of the blocks but off highs as Chinese GDP and politics sends HK down 5% and US futures give up Sunday night gains. Volume remains on the modest side, Banks shining ahead of the results later this week and to come, the Big Bank Basket now at $181.57 (+0.9%). CBA doing well up 1.2% and MQG finding some support up 2.4%. Insurers gained with IAG up 2.1% and QBE rallying 0.5%. Industrials were firm but somewhat underwhelming. TLS rose 0.5%, WOW up 1.2% and WES up 2.1%. Healthcare better, CSL up 2.1%, RMD up 1.9% and FPH up 2.4%. Tech stocks rose 2.7% with XRO up 3.5% and NXT up 3.1%. Resources were the driving force today with BHP up 2.6% being nearly 15 points of index gains. RIO up 1.2%, FMG rallying 2.5% and even gold miners gaining ground as the USD falls. NCM up 2.9% and NST up 5.0%. EVN a stand out up 7.7%. Lithium and battery tech stocks once again in favour, PLS up 6.1% on another sales result and AKE rising 1.8%. CXO rose 1.8% and LPM up 7.3%. Oil and gas were mixed, STO down 0.1% and WDS up 0.4% with coal stocks in demand, WHC up 3.4%. NHC ex-dividend today. In corporate news, S32 fell 1.9% on a disappointing quarterly and OZL dropped 1.2% on a similar underwhelming report and BHP was steadfast in only paying 2500c for the company. VUL rose 13.4% on good pilot plant news in Germany and NMT rose 10.5% on environmental permitting. On the economic front, RBA assistant Clarke talked rates and demand, and the private sector contracted for the first time in nine months in October. Asian markets stumbled lower on GDP numbers from China finally dropping and around 3.9%. 10-year yields 4.15%. Dow Futures up 19 points.

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