Marcus Today End of Day Podcast – Wednesday 19th July
ASX 200 up 40 points to 7324 (0.6%) in quiet trade again. Lacking conviction. Narrow range and once again banks leading the way higher, following US peers higher on NIM. CBA up 2.0%, ANZ up 2.0%, and the Big Bank Basket up to $180.15(2.0%). Insurers better too, QBE up 0.8% and SUN better. Money managers also in demand, ASX up 0.9% and MFG up 2.3%, with MQG rising 1.2%. REITS in demand after the drubbing yesterday, GMG missed out flat, SGP up 2.0% and MGR up 1.3%. Healthcare mixed, CSL up 0.4% after early losses, FPH up 0.7%. Industrials firmed WES up 0.5%, TCL up 0.2% and CPU up 2.1%. WOW and COL steady. ANN continued 2.5% lower after downgrades. Tech stocks better, WTC up 0.8% and XRO up 1.3%. The All-Tech Index up 0.6%. Resources were weaker again today, iron ore down in Singapore, BHP off 0.3%, RIO dropped 0.7% after production report pointed to production of IO at upper end of range. Base metal stocks going nowhere, gold stocks disappointing although DEG down 1.7% on management changes. Oil and gas better, WDS up 1.4% on production numbers, coal doing well as heatwave bites, WHC up 2.8%. In corporate news, ALD did well up 4.4%, on a strong business update, NST fell 5.8% on production numbers, and AEF FUM grows to $9.2bn. In economic news, the Westpac-Melbourne Institute Leading Economic Index in Australia rose 0.1%. Asian markets were mixed again, Japan up 1.2%, HK down 0.6%, China down 0.1%.
Why not sign up for a free trial? Get access to expert insights and research and become a better investor.
Make life simple. Invest with Marcus Today.
Create your
podcast in
minutes
It is Free