Marcus Today End of Day Podcast – Tuesday 27th June

The ASX 200 up 40 points to 7118 (+0.6%) snapping back from a 4-day losing streak ahead of CPI numbers tomorrow. REITS saw the biggest gains today as the NSW premier announced an increase in height restrictions for apartment building in Sydney. GMG up 1.2% and SCG up 4%. Banks gained after their recent drop The Big Bank Basket up $168.31 (+0.8%). CBA +0.5%, WBC +1.6%, ANZ up 1.5% and MQG +0.8%. Money managers firm and insurers mixed as MPL drops 3.9%. Resources rose in a broad market rally, Iron ore miners faring well, BHP up 1.5%, RIO up 1.7% and FMG up 2.9% despite broker downgrades. Gold closed mostly flat as fears in Russia caused a rush for safe-haven assets early in the day, before dropping off. NCM up 2% and NST down 0.7%. Lithium mixed with LRS dropping 3.9% following last week’s rapid gain.  Oil and Gas stocks fairly flat, WDS up 0.6% and BLU up 4.6%. The All-Tech Index dropping 0.7% ahead of CPI numbers tomorrow morning, despite a forecasted decrease in inflation rates. WTC down 0.9% and TNE down 0.1%. In corporate news, CKF rose 17.7% following an increase in sales, yet also noted inflation is placing pressure on underlying margins. MPL dropped 3.9% following APRA’s decision ruling that they must increase their capital holdings following their data breach late last year. PBH has been placed in a trading halt pending an announcement regarding the US division sale. On the economic front, ANZ Roy Morgan Consumer Confidence had a slight increase but still remains well below the average, for the 17th consecutive month. Asian markets are trading mostly higher China up 1.2% HK up 1.9% and Japan down 0.3% on Chinese Premier's comments at WEF.. Bond yields mostly unchanged, 10-year steady at 3.95%. Dow futures up 87 points. NASDAQ futures up 46.

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