Marcus Today End of Day Podcast – Tuesday 4th April
ASX 200 rose 13 points to 7236 (+0.2%) surging after the RBA paused on rate rises. Banks saw moderate gains with the Big Bank Basket relatively unchanged at $172.12. MQG rose 1.4% and insurers mixed as ACCC concerns on SUN/ANZ deal took focus. Money managers flip-flopped around. REITs bouncing back hard led by GMG up 1.0% and MGR up 2.4%. TLS had a good day up 0.7% and hit prices not seen since last week. Tech better with XRO up 1.8% and WTC up 1.7% with the All-Tech Index up 0.8%. Staples rose, WOW up 0.6% and COL up 0.7% with industrials generally firm. DMP up 3.2% and TAH doing well up 1.9%. In resources, BHP and other iron ore stocks suffering with the big Aussie down 2.2% and FMG off 0.7%. Lithium stocks eased again as LiCO2 prices remain under pressure in China. PLS off 2.9% and MIN down 1.9%. LTR steady as she goes. Gold miners in the green today as bullion hovered around US$2000. NCM up 3.2% and NST up 3.5%. Oil and gas a little dull but coal a merry old soul with WHC up 5.7%. In corporate news, SEK fell 1.0% after a slight downgrade, MCR recommended shareholders accept the Wyloo 140c cash bid. The founder of SUL announced he was retiring. On the economic front, Phil Lowe keeps rates unchanged as worries about the construction industry may have been a factor. Meanwhile in Asia, Japan up 0.3%, HK down 0.8% and China unchanged. China closed tomorrow for Tomb Sweeping Day. Dow futures down 15 points. NASDAQ futures down 32 points.
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