Marcus Today End of Day Podcast – Wednesday 12th April

ASX 200 gaining 34 points to finish at 7344 (+0.5%) with positive sentiment from the RBA interest rate pause still carrying over into this week. Healthcare continues to rise as the sector takes advantage of the interest rate reprieve. MPL up 0.9%, now up 22.3% in total from the post-cyber-attack lows. CSL up 0.7% and RMD up 0.6%. Resources doing well despite the IMF downgrading global growth forecasts, BHP up 1.9% and RIO up 2.7%. Lithium performed poorly today as fears of a fall in the price of lithium sent PLS down 4.1%. Gold miners continuing their gains as Newmont dropped overnight on their revised offer for NCM, down 0.3%. NST up 1.8% and AGG up 2.4%, as bullion steady at $US2023. Energy stocks ease, oil prices remain steady, WDS and STO unchanged. Coal copping a bit of a beating as WHC downgrades full-year forecast, off 3.2% and NHC down 0.5%.  REITs holding steady. Banks taking one of the biggest hits for the day, the Big Bank Basket down to $173.07 (-0.4%). MQG mostly stable up 0.4%. CBA and NAB both down 0.5%. Industrials mixed, ALL down 0.4% and QAN down 2.1% while TWE gained 2.3%. On the corporate front, WHC downgrades full-year guidance, PTM reports a net outflow of $223m for March. MQG considers selling their Indian highway projects, estimated to be worth $1.5bn. In economic news, consumer confidence rose by 1.1 points, the third week of consecutive increases. The IMF downgraded their global growth forecasts and warned of a hard landing for the global economy and prolonged inflation.  In Asian trade, Japan up 0.8%, HK down  0.6% and China up 0.3%. Dow futures up 36 points. NASDAQ futures down 2 points.


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