Marcus Today End of Day Podcast – Friday 11th August

ASX 200 slid 17 points to 7340 (+0.24%) in quiet trade dominated by results again today. For the week the index is down 0.85%. Broad based weakness today, Banks eased after CBA results and Phil Lowe talked up rates in Canberra. The Big Bank Basket down to $180.46 (0.1%). Insurers mixed, QBE slipped 0.3% despite broker upgrades. Fund managers also squeezed slightly higher. MFG up 1.8%. Industrials were flat, healthcare better led by CSL up 0.6% and RMD up 0.6%. REITS slightly firmer with GMG down 0.4% the exception. Tech stocks eased back with XRO down 0.2% and WTC falling 1.5% with the All-Tech Index down 0.4%. In resources, iron ore stocks down again, FMG off 2.2% with RIO now ex-div falling another 0.6%. Lithium stocks on the nose today with PLS down 1.1% and MIN off 1.7%. Energy stocks also weaker, WDS down 2% on crude falls and strike threats. STO off 1.6% with coal stocks sold down, WHC off 2.0% and BCB down 4.2%. In corporate news, SGR is up 18.0% on a softly, softly NSW government, NCK rose 13.3% so far so good, CTT founder sold down, stock up 5.4% and BBN fell 1.9% on well-guided results. In economic news, it was all about the US CPI, although Phil Lowe spent his last uncomfortable day in Canberra with some regrets he had a few. Too few to mention. Asian markets weaker, China down 1.3% and HK off 0.7%. Japan closed for Mountain Day. Dow futures up 29 points. NASDAQ futures 23 points.

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