Marcus Today End of Day Podcast – Friday 29th September

ASX 200 rallied 24 points to 7049(.3%) in quiet trade. Holiday in VIC today. China closed too. Miners have been in focus in the last few days, BHP up another 1.2% with RIO and FMG joining the party. Lithium shrugged off its recent depression with PLS up 1.9% and AKE up 2.1%. LTR slipped 1.3% on a KV update. Costs up 6% since January. Gold stocks also in demand as bargain hunters scratched around in the ashes, NST up 2.1% and EVN up 1.2%. Oil stocks eased slightly with some profit taking, coal down too, uranium stocks continue to push higher as DYL up 1.9% and BOE doing well too on drill results up 3.0%. Industrials firmed with tech steady, XRO up 0.4% and the All-Tech Index up slightly. Healthcare mixed, CSL still bleeding down 0.5% and RMD taking a break down 2.1%. Banks were solid yet unspectacular. The Big Bank Basket rose to $175.85 (0.2%). MQG bounced after some dismal days, up 1.6%. Other financials also finding buyers. In corporate news, CXO rallied hard on better-than-expected results and short covering, up 19.1% BOQ announced job cuts. Nothing on the economic front. Asia markets mixed with China closed and HK up 2.7%. 10-year yields pushing higher again to 4.49%.

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