Marcus Today End of Day Podcast – Thursday 10th November

 ASX 200 falls 35 points to 6964 (0.5%) ahead of US CPI tonight. Banks eased back as NAB saw downgrades post results, falling 2.1%, the Big Bank Basket down to $182.93 (1%). MQG fell 1.0% and insurers slid slightly as bond yields fell to 3.72% in the 10s. Plenty going on with PPT, PDL one up one down. MFG fell another 3.2% as it continues to head lower. Industrials were mixed, CSL up 1.1% on an upgrade, COH better by 1.5% but others slightly lower. REITs better on lower yields, Staples continue to find bargain hunters with EDV, COL and WOW all doing ok. Resources slipped as China locked down more areas due to CV19. BHP fell 1.5%, FMG off 2.0% and base metals and lithium stocks falling away. PLS down 3.3% and MIN off 1.1%. Gold miners were mixed, DEG up 2.1% and NCM down 1.3%. Energy stocks weak, WDS down 2.3% and STO fell 1.6% with WHC dipping another 3.3%.

ORG bucked the trend as Brookfield lobbed a 900c bid into the equation, in other corporate news, NWS rallied 8.7% on better Q1 numbers, XRO fell hard by 10.9% on margin and growth issues, PPT got another bid at 3300c rising 14.8% whilst PDL fell 10.9% on a delay. CPU gained 4.1% after better AGM update and A11 fell 4.0% after a presentation at the Noosa Mining Conference. On the economic front, no big news but US CPI in focus. Asian markets weaker and 10-year yields fell to 3.72%. Bitcoin craters. Finding some support.

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