Marcus Today End of Day Podcast – Friday 13th October

ASX 200 performs only slightly better than expected, falling only 40 points to 7051 (-0.6%). Volumes seemed light, and some book squaring ahead of US results helped sentiment. Banks eased back, with CBA down 0.6% and the Big Bank Basket down to $177.48 (-0.7%). Insurers slightly better IAG up 0.2%. Fund managers eased back, and REITs fell back as 10-year yields rose to 4.47% again. Industrials slid, with TCL down 1.4%, REA off 2.7% and CAR off 1.5%. Tech stocks fell as rates rose, WTC down 1.6%, and the All-Tech Index dropped 1.5%. Utilities rock solid, but rate-sensitive stocks came under pressure. Healthcare still suffering the fallout from GLP-1 drug factors, CSL finding some support up 1.3%, and RMD hits a fresh 52-week low, down 2.8%. Miners were better in the iron ore and lithium space. BHP up 0.4% and FMG rising 0.7%. Lithium stocks squeezing a little higher, MIN down 0.4% and AKE up 0.9%. Gold miners slid, NST down 2.6%, EVN off 3.4%, and NCM up 0.8% ahead of Newmont deal conclusion. Oil and gas stocks eased, WDS down 0.4%, and STO up 0.1%. Coal stocks are slightly higher. In corporate news today, PGH rejected the takeover bid from Raphael Geminder. PPT rose 2.6% on FUM news. FBU in a trading halt, denying allegations that manufacturing faults were to blame for some failures. In Asian markets, a weaker end with Japan down 1.5%, China down 0.7% and HK off 2.1%. Dow Futures up 31 points. NASDAQ Futures up 5 points.

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