Marcus Today End of Day Podcast – Thursday 23rd March

ASX 200 fell 47 points to 6969 (-0.7%) but steady at lower levels as we await the US and European markets. Resources in a funk with BHP off 0.8% and MIN down 2.9%. The Lithium and battery material stocks cratered hard, PLS down 4.7%, CXO off 3.8% and AKE down 4.3%. Rare earths also remain under pressure with LYC down 3.2% and ARU off 7.9%. Gold miners were firm but unspectacular despite bullion heading higher. NCM up 1.1% and NST rallying 2.0%. Oil and gas stocks eased back and coal not such a merry old soul as WHC fell 2.8%. Banks were weaker but no great dramas, the Big Bank Basket dropped to $168.75 (-0.4%). MQG back in the doghouse down 1.8% and wealth managers falling away again, MFG down 3.9% and IFL off 2.8%. Insurers weaker, QBE down 1.6%. Industrials were mixed. Defensives in staples doing ok, WES up 0.2% and WOW up 0.1% with BXB doing well up 0.8%. REITs eased back, tech down with XRO off 0.9% and NXT off 1.6%. Healthcare mixed, COH off 2.3% and RMD down 1.2%. In corporate news, BKW results helped the stock rally 3.1%, SOL lifted its dividend by 24% and WBT revealed a cash call and an SPP at 500c. SIG reported an increase in revenue of 6.2%. Nothing on the economic front. Asian market mixed, China and HK better but Japan slightly lower. 10-year yields eased to 3.31%. Dow futures up 141 points. NASDAQ futures up 60 points.

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