Marcus Today End of Day Podcast – Monday 28th August

ASX 200 rallied 45 points in quiet trade to 7157 (0.6%). Solid day on US optimism and Chinese stimulus moves. Banks leading the charge, CBA up 1.2% and NAB up 1.3%, with the Big Bank Basket up to $175.00 (+1.1%). MQG found some friends up 0.4%, with insurers slightly firmer. REITs positive led by GMG up 0.7%. Healthcare doing better, RHC up 2.5% and RMD rallying another 0.6% with CSL in demand. Industrials were slightly better. WES up 2.2% on broker upgrades, ALL up 1.4% and WOW up 1.2%. Retailers picking up slightly on better-than-expected retail sales numbers today. JBH up 1.4%, and PMV up 1.7%. LOV fell 4.3%, giving back some of last week’s bounce. Tech was mixed with WTC down 1.7%, XRO up 0.8%, and the All-Tech Index down 0.7%. Miners were mixed. FMG results were overshadowed by the CEO resigning after only 6 months, falling 5.1%, BHP up 1.2% and RIO rallying 0.7%. Lithium stocks fell, led by PLS down 4.0% on broker PTs. Gold miners better, EVN up 3.2% and NST up 2.7%. Oil and gas mixed with coal modestly firmer. In corporate news, HLO up 6.0% on the doubling of TTV, IMD hit the mud after a 22% profit fall, down 15.8%. NXT fell 2.6% despite numbers ahead of guidance. APX was whacked on bad numbers down 32.1% In economic news, retail sales came in at 0.5% better than the 0.3% forecast. Asian markets boomed on China’s latest support for the market. China up 1.5%, HK up 1.5%, and Japan up 1.5%. 10-year yields unchanged at 4.15%. Dow futures up 85 points. Nasdaq futures up 28 points.

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