Marcus Today End of Day Podcast – Monday 23rd October
ASX 200 falls another 57 points to 6842 (0.8%) as resources weighed on sentiment. The big iron ore miners under pressure, BHP off 2.4% with RIO falling 2.4% and FMG off 2.7%. Lithium stocks well and truly on the nose with PLS sinking another 7.3% as AKE fell 3.0% and MIN down 5.2%. Gold stocks eased too as bullion came off the boil, NCM down 2.0% and EVN down 1.4%. Base metals also under pressure as S32 had production numbers losing 3.0%. Oil and gas stocks whacked as oil fell in Asian trade, WDS down 3.2% and STO off 2.5% with coal stocks a little weaker as NHC went ex-dividend and then some. Industrials were mixed but painted a far more optimistic picture, healthcare managed a good day led by CSL and RMD up 1.6% and 3.5% respectively, SHL also rose 0.9% with other defensives also in demand, WOW up 0.7% and COL rising 0.7%. Tech saw modest losses as the All-Tech Index fell 0.5%. WBT continued its strong run, up another 15.2%. REITs eased as rates continued upwards, the 10-year yield at 4.79%. Banks with modest losses, the Big Bank Basket down to $172.44 (-0.6%). In corporate news, once again speculation in some takeovers in the lithium space, WC8 hit some great intersections, AZS in a halt pending a deal being announced, LRS returned having raised $35m and PFP up 2.7% talked of multiple parties interested in the business. Nothing on the economic front today although news on a wine cooler in China helped TWE up 1.4%. In Asian markets, Japan off 0.8% China down 0.6% and HK fell -0.7%.
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