Marcus Today End of Day Podcast – Thursday 20th April
ASX 200 closed down 3 points to 7362 in a mixed day of trading as BOQ, RIO and ZIP all came out with earnings reports. Resources getting whacked today on the back of RIO activities report, down 2.3% and demand concerns from China. BHP down 2.6% and FMG down 0.9% Lithium down as well, with prices continuing to slip as lithium supply cycles through in China. LTR down 0.4%, MIN down 5.5% and PLS down 4.9%. Gold stocks lower as bullion price drops to $2979, NST down 4.2%, and NCM down 0.5%. Energy stocks are down for a third consecutive day as Oil dropped overnight, WDS down 0.5% and STO off 0.4%. Banks gaining today after BOQ released a positive report, Big Bank Basket up 1.4% to $177.05, BOQ up 1.1%, WBC up 1.5%, and ANZ up 1.3%. Technology mostly unchanged, the All-Tech Index fell 0.4%. With WTC down 0.5% and SQ2 down 1.14% REITs gained. Consumer discretionary bouncing back from yesterday’s losses, up 1%. On the corporate front it was a busy day, RIO released quarterly activities report with record export shipments, also warned of lithium delays. The ACCC blocked QAN acquisition of AQZ citing a lack of competition in the airline industry. BOQ released an earnings report with positive results released, including $4m in statutory net profit. In economic news, Japan’s exports increased higher than expected. New Zealand inflation decreased more than forecasted. Asian markets down, Japan flat, HK down 0.1%, and China off 0.4%. 10-year yields up to 3.51%. Dow Jones futures down 28 points and Nasdaq futures down 74 points.
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