Marcus Today End of Day Podcast – Monday 13th February
ASX 200 slips 16 points to 7408 (0.2%). Narrow trading range with results dominating. Banks eased back ahead of CBA numbers later this week, the Big Bank Basket fell to $190.08 (0.6%). Insurers doing well, IAG jumped 4.5% on results. QBE up 1.3% and SUN up 1.5%. Fund managers under pressure and MQG slipping 0.6%. Industrials mixed with REA down 1.6% on broker downgrades, CAR 0.6% better on results, SEK off 1.5% and tech mixed, WTC up 0.6% and XJO down 1.4%. The All-Tech Index falling 0.9%. Defensives holding the line, WOW up 0.1% and TLS better by 0.7%. REITs rebounding with VCX up 1.0% and GPT up 0.7%. Healthcare down, RMD off 2.1% and RHC off 1.8% with CSL flat. Resources weaker but no huge moves, BHP down 0.3% and RIO off 0.2%. Energy stocks all better, WDS up 2.1% and STO rallying 1.7% with coal stocks also in demand as China gears up to take Australian coal again. WHC up 2.5% and YAL up 3.9%. In results, a big start to the week but losses seem to be the main reaction. SGR fell hard, 21.0% on more write offs on compliance, AZJ dropped 6.5% with LLC down too on results. JBH reported too following its sales update and warned of tougher times ahead, LYC answered questions on Malaysian regulatory risks. APX also fell hard on its own write-offs, down 15.4%. VIT had a good day charging 15.2% ahead on a presentation. EDV toasted better numbers rising 4.1% with AD8 also doing well up 10.0% on record revenue numbers. Nothing significant on the economic front but 10-year yields pushing higher again. Asian markets mixed, Mixed with Japan down 0.5%, HK down 0.5% and China up 0.6%. Dow futures down 105 points and NASDAQ futures down 57 points.
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