Marcus Today End of Day Podcast – Monday 12th December

ASX 200 closed down 32 points to 7181 (0.5%) as banks steady and resources slip ahead of FOMC. Gas caps hurting sentiment in utilities not helpful with ORG dropping 7.8%. In iron ore stocks, BHP dragged the index lower falling 1.5% with FMG in trouble too. MIN off 2.4% with IGO down 2.6%. Base metal and lithium stocks off again too, LTR down 2.2% and CXO falling 1.3% on a slight broker downgrade. PLS bucked the trend rising 1.3% and SYA up 2.3% with some permitting news in Quebec. Gold miners hit, NCM down 3.4% and NST off 3.1% as GMD and SBM announced their engagement in the press. Oil and gas mixed, crude rose in Asian trade, WDS up 2.7% but coal stocks eased on worries about price caps. WHC down 2.0% and NHC off 1.4%. Banks were flat with the Big Bank Basket pretty much unchanged, MQG bounced 2.1% and Insurers mixed, MPL grinding lower down 2.0%. Industrials mixed, WOW and COL eased, REITs better as rates rose, GMG up 0.1% and SCG better by 0.4%. Healthcare easier, CSL unchanged and RMD off 0.6%. Technology mixed. CPU down 0.8% and WTC up 0.2%. In corporate news, TYR rebuffed the latest 160c offer from Potentia, down 19.5%, NTO got a 215c bid from Allude. GMD and SBM announced the long- awaited merger and a $275m capital raise. DOW added more information to its opaque accounts process. Nothing on the economic front, with Asian market weaker and 10-year yields up to 3.36%

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