Marcus Today End of Day Podcast – Tuesday 18th April
ASX 200closed down 21 to 7360 (-0.3%) in a dull day of trade, as the market digested RBA meeting minutes which warned more rate hikes may be needed. Energy sector pummelled, as Treasurer Chalmers is anticipated to hike taxes on big gas producers, STX down 7.1%, STO down 1.9%, and WDS slipping 2.4%. Gold miners failed to impress, AGG and NST down 2.9% and 0.1%. Utilities sector stronger, APA up 1.6%. Banks mostly lower, ANZ flat, and CBA down 0.3%. The Big Bank Basket dropped to $174.64 (-0.1%). REITS mixed. Tech fell with the All-Tech Index down 0.4%. XRO down 1.3%. ALU down 0.9%. Healthcare not healthy, CSL down 0.5%, RMD off 0.7%, COH slipped 0.5%. Industrials flat, A2M and ELD higher but WOW fell 1.9%, COL down 1.2% and REA off 0.8%. In corporate news, TLX surges 12.7% after posting net operating cashflow of $2.5m, EVN resumes mining at Ernest Henry operation, HUB, PPS, and RPL all reported FUM/FUA. In economic news, ANZ-Roy Morgan consumer confidence fell marking the seventh straight week below 80 as consumers turn pessimistic after a series of interest rate rises, China’s GDP rose 4.5% beating expectations in the first quarter after Xi lifted COVID-19 restrictions triggering a rebound in factory and consumer activity. Asian markets mixed, Japan up 0.7% and HK down 0.7% with China up 0.2%. Dow Jones futures up 11 points and Nasdaq futures down 6 points.
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