Marcus Today End of Day Podcast – Friday 20th October

ASX 200 managed to cling to 6900 falling 81 (1.2%) points today. Across the board selling as yields and geo-political events take centre stage. ASX 200 down 2.1% for the week.  10-year yields stable at 4.74% with US rates breaching 5.00% briefly. Banks sold off with CBA down 1.0% and NAB down 1.6%. Banks have been very good performers this month ahead of results but profit taking creeping in. The Big Bank Basket down to $173.53 (-1.2%%).  MQG dropped another 1.5% with insurers easing despite higher yields. REITs under some pressure as GMG fell 1.6% and GPT down 1.3%. Healthcare down with the exception of RMD which continues to buck the trend. Industrials weak, WES down 0.8% , TLS falling 1.6% and tech in trouble with the All -Tech Index down 1.2% with WTC off 2.6%. In resources, iron ore miners fell back a little again, BHP down 1.8% and FMG off 2.2%. Lithium stocks under pressure with MIN off 2.4% and AKE falling 3.9%. LTR though took the spotlight with a massive 32.0% loss as it returned to trade and no sign of Gina. Gold stocks eased too after a good week, oil and gas mixed, STO up 1.9% on a broker upgrade and WHC slightly higher again on broker comments. In corporate news, LRS in a halt pending a capital raise, IFL fell 12.8% on CEO resignation, ALX fell to a two year low on US traffic data, QLD has intervened to get the SUN/ANZ deal done and BSL cut guidance. Nothing significant on the economic front. Asian markets weak, Japan down 0.2%, China off 0.2% and HK off 0.4%.

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