Marcus Today End of Day Podcast – Monday 5th June
ASX 200 finished well off the highs, up 71 points (+1.0%) ahead of RBA uncertainty tomorrow. Solid cautious gains across the board. Resources were firm as iron ore rose, BHP up 1.7% and RIO up 1.3% with FMG screaming ahead up 3.6%. Lithium and base metals are better, PLS up 2.0% and S32 rising 1.3%. Gold miners slipped a little with NCM down 1.4% and NST off 0.4%. Oil and gas better after the Saudi production cut and bounce in crude, WDS up 0.8% and STO rallying 1.1%. Coal slightly higher. Banks firmed with the Big Bank Basket up to $167.44 (+1.0%). MQG better by 1.6% with insurers doing well on higher bond yields. QBE up 1.6%. Fund managers also in demand, MFG up 2.0 and PTM rallying 0.3%. Industrials firm, TLS up 0.7% and healthcare doing well, CSL up 0.9% with RMD up 0.8%. REITs firm, GMG up 1.4% and SCG better by 0.5%. Tech stocks a bit flat, APX down 6.9% on profit taking, with XRO off 1.8% and WTC down 0.,7%. In corporate news, ELD has decided to stick with the current CEO, rising 2.7% and MYR CEO is retiring next year. On the economic front, nothing market moving with Phil Lowe sealing his date with destiny tomorrow, the jury well and truly hung. Asian markets are mixed, Japan up 1.7%, HK up 0.3% and China unchanged. Dow futures up 30 points. NASDAQ futures down 43 points.
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