Marcus Today End of Day Podcast – Monday 24th April

ASX 200closed down 8 points to 7322 (-0.1%) in a flat day of trade. Market high of +2, and low of -23. Mining and material sectors were punished today, following a slew of poor production results BHP down 1.9%, RIO down 3.3% and FMG down 3.4%. Iron ore under pressure in Asia also a problem. REITS the best-performing sector, GMG, SCG, and VCX all posted gains over 1%, while LLC dragged down 3.0%. Lithium stocks mixed following Chile’s move to nationalise its lithium industry, MIN up 2.1%, PLS stronger 5.2%, AKE down 0.2%, and CXO gaining 1.6%. The Big Bank Basket topped $175.37 (+0.1%). Banks and insurers mixed, CBA +0.3%, ANZ -0.5%, QBE +0.5%, MPL -0.6%. Tech sector performed well today, All-Tech Index up 0.8%, SQ2 +2.3%, WTC +2.0%, and WBT +4.3%. Healthcare flew under the radar, CSL up 0.9%, SHL up 0.3%, and RMD up 2.1%.Retailers mixed. WES up 0.7%, DMP down 0.2%, ADH down 2.3%, and HVN rose 0.6%. In corporate news, FMG and S32 production results disappointed, BOE makes headwind on Honeymoon uranium project on track for December production, and IVC took a steep tumble down 7.8% after TPG Capital formally pulled its takeover offer. On the economic front, no big news but inflation but domestic CPI data in focus. Asian markets mixed, Japan up 0.1% and HK down 1.3% with China down 0.6%. 10-year yields fell to 3.45%. Bitcoin finding support +0.66%. Dow Jones futures down 139 points and Nasdaq futures down 61 points.

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