Marcus Today End of Day Podcast – Monday 19th June

The ASX 200 started the week on a positive note, up 44 points to 7292 (+0.6%), rising for its sixth consecutive session and reaching its highest levels in six weeks. Healthcare and consumer stocks led the market today, bouncing back from last week’s losses with CSL +2.4%, RMD +1.5%, and MSB +6.8%. Supermarket giants WES +0.9% and COL +1.3% led the consumer staples rally as UBS upgraded the stock to buy. Insurers enjoyed the most gains in the financial sector, with SUN gaining 2.0% and QBE up 1.1%. Banks good, the big four banks all up over 1%, with ANZ leading the banks up 1.5%. Big Bank Basket up to $171.34 (+1.2%). Tech stocks rallied. All-Tech Index up 0.9%. Semiconductor company WBT is among the best performers up 8.7%, XRO +1.3% and WTC +0.6%.  Meanwhile, Energy and mining stocks were mostly down, falling in lockstep with oil, as WTI crude futures fell toward $71 a barrel, giving back some of last week’s gains. BHP down 0.7%, FMG off 1.0% and WHC -2.9%. In corporate news, KAR +1.5% despite the oil producer downgrading its production guidance, LKE fell 20.0% on news that its Argentina Lithium project would be delayed and cost more than originally anticipated. ABP +5.8% completes the institutional component of an equity raising for Abacus Storage King. ASB -1.6% secured a US$71.7m contract with the US Navy for the construction of a Navajo class ship. Nothing on the economic front. Asian markets down, Japan down 0.4%, HK down 1.1%, and China off 0.5%. Australia 10Y yield down to 3.98%. Bitcoin up 0.61%. Dow Jones futures down 43 points, and Nasdaq futures up 13 points.

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