Marcus Today End of Day Podcast – Tuesday 8th November

 ASX 200 closed up 25 points to 6959 (0.4%) in very tight trade. Volumes down too. Banks bounced back as WBC ran 2.0% and the Big Bank Basket rose to $184.49 (1.2%). MQG up 0.9% with insurers flat and MFG slightly higher despite Hamish selling down another parcel on a block trade. Industrials slightly higher as staples rallied, EDV, COL, WOW and WES all better, REITs better despite 10-year yields scything through 4%. Tech marooned with the Al Tech Index unchanged. Resources were mixed as lithium stocks continued to power up, PLS up 4.4%, CXO up 3.8% and MIN rising 5.0%. Iron ore stocks eased with gold miners seeing some small gains. NCM up 0.2% and NST up 1.2%. Oil and gas fell, WDS down 1.2% and STO with a reduced production forecast falling 5.3%. Coal stocks not in a merry place at all, WHC down 5.5% and NHC off 7.8%. Incorporate news, MPL was threatened with a data dump on the Dark Web by a RaaS (Ransom as a Software) provider, falling 1.8%. JHX was sideswiped as US and local housing slowing dramatically and fell 13.8%. SGM also in the seller’s spotlight on its update on lower scrap volumes, down 9.7%. A2M rose 4.0% on the kick off of its buyback. TLC 4% better on an update. No good news on the economic front with both consumer sentiment and business sentiment falling again. In Asia, Japan up 1.4%, HK unchanged, China down 0.8%. 10-year yields better again above 4%.

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