Marcus Today End of Day Podcast – Wednesday 15th February

 ASX 200 fell 79 points to 7352 (1.1%) as banks fell sharply after CBA results prompted questions about the outlook. The Treasure calling on the ACCC didn’t help. The Big Bank Basket fell to $180.92 (5%) with CBA down 5.7% and NAB off 4.1%. Insurers lid a little, MPL up 1.3% and MQG down 0.4% with MFG getting a rare broker upgrade rising 7.1%. In the industrials, staples eased, WES reported good numbers and rose 1.3%, WOW slipped 0.8% and travel stocks were mixed as CTD delivered a sub optimal result cratering 8.7%. Tech was mixed, WTC up 0.6% and CPU dropping 4.0%. Healthcare saw COH rising 7.8% on the kick off of the buy back, CSL eased and SHL up 1.3%. REITs generally slightly firmer except GMG that fell 0.4%. In resources, BHP rose 0.5%, RIO up 1.5% but FMG delivered slightly underwhelming number and dropped 0.8%. Lithium stocks depressed. PLS fell 2.7%, IGO off 2.0% and LYC slipped 2.4% despite brokers warming to the story. Gold miners sold off, NCM down 1.8% and NST falling 2.4%. Oil and gas fell too, WDS off 2.4% and STO doing slightly less worse off 0.7%. Coal stocks back in focus, WHC up 3.5%. In corporate news, results dropped think and fast. TWE fell 6.9% on some disappointing numbers, slight miss, PME jumped 0.7% on its positive results. MYX restated FY22 revenue, PGH removed the interim dividend. NWL reported record earnings and VCX upgraded guidance. On the economic front, all eyes were on Phil Lowe who wore his best hair short to the Senate estimates. And banking arears according to S&P are on the rise. 10-year yields steady at 3.74%. In Asia, Japan down 0.5%, HK off 1.3% and China down 0.4%

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