Marcus Today End of Day Podcast – Friday 21st April
ASX 200 closed down 32 points at 7330 (+0.4%) in quiet trade again. Down 31 points this week. It tried to recover from early losses but ahead of a potential long weekend, it struggled. Resources were mixed today as BHP reported its quarterly and iron ore slipped in Asia, the stock down 2.3%, RIO off 2.8% and FMG falling 4.2%. Lithium stocks finding some support after early losses, PLS up 3.3%, AKE up 1.0% and SYA better. LYC did well on its quarterly with record production, up 4.8%. Gold miners better as bullion pushed higher, EVN up 0.9% and BGL rallying 1.1%. Coal stocks back in favour with WHC gaining 5.9% after its production report. NHC up 2.3% and oil and gas stocks slightly higher. Healthcare better led by CSL up 0.6% and RMD rallying 1.0%. Industrials firm, QAN up 1.1%, CPU up 1.5% and BXB continuing to find buyers up 1.5%. Banks slid after recent gains, BOQ copped broker downgrades falling 5.0% and CBA dropped 1.1% with MQG bucking the trend up 0.8%. The Big Bank Basket finished down at $175.19 (-1.1%). In corporate news, BHP numbers innocuous, LYC record production but still question marks over Malaysia and WDS quarterly production numbers and guidance maintained. Nothing on the economic front, Asian markets eased, Japan down 0.4%, China down 1% and HK off 0.9%. 10-year yields slightly weaker at 3.47%. Dow futures down 25 points. NASDAQ futures up 12 points.
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