Marcus Today End of Day Podcast – Thursday 3rd November

ASX 200 fell 129 points to 6858. Off lows but caution remains. Losses across the board with the Big Bank Basket down to $186.24 (-1.6%). MQG down 1.4% with insurers holding up as 10-year yields rose to 3.91%. MPL up slightly.  Fund mangers in focus as PPT rose 7.1% on a potential bid, PDL dropped 10.7% as its party could be spoilt and MFG just lost 5.7%. Healthcare down as CSL fell 1.6% dragging SHL lower and COH falling 3.5%. Industrials weaker, staples in focus on WOW numbers, COL fell1.0 %, WES down 3.8% and EDV off 1.4% with WOW falling 3.5% on quarterly results. TLSDA gained as a defensive up 1.3% but REITs sliding on rate woes. GMG down 0.8% with LLC down 8.7% on a strategy update. Tech on the nose again, the Index down 1.5%, XRO off 2.0% and SQ2 off 5.7% as US slumped. Resources fell with BHP down 3.2%, FMG off 2.9% and RIO down 2.2%. Lithium was a little depressed, PLS down 1.4% and MIN off 3.1%. Gold miners fell despite no change in bullion, NST off 3.4% and NCM down 3.0%. Energy stocks mixed, WDS fell 1.4% yet NHC rose 5.9% on new buy back.

In corporate news, BVS was guillotined by a business update from the new CEO falling a massive 52.1%, A2B fell 7.4% on guidance reaffirmed, PPT up 7.1% on a bid at 3000c cash from Regal and its partner. A2M rose 4.2% on USA tick and JAN rose 17.0% on a trading update. In economic news, strong exports helped the trade surplus to $12.4bn. In Asia, Japan closed for a holiday. HK fell hard as it raised rates, falling nearly 3% and China down around 1.2%.

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