Marcus Today End of Day Podcast – Monday 6th November

ASX 200 rose 19 points to 6998 (0.3%) in cautious trade ahead of the RBA tomorrow. Banks were firm and WBC results helping with the stock up 2.0% on a $1.5bn buyback and a $7.2bn profit. The Big Bank Basket up another 0.8% to $177.42. MQG giving back some of its gains from Friday down 1.0% and MFG slipped 0.4% following its latest FUM numbers. Insurers easing back as 10-year yields fall to 4.70% and REITs mixed. GMG reaffirming guidance down 0.4%. Industrials firm but few stand out's. Tech a little weaker with WTC up 1.0% and XRO down 0.4%. The All Tech Index down 0.4%. SQ2 fell 6.3% on profit taking. Healthcare doing well as CSL and RMD leading the charge from oversold levels up 1.7% and 3.1%. RMD now up almost 12% in a week. In resources, BHP down 0.1% and RIO off 0.9%, some talk of BHP wanting to bring Brazilian compensation to a head. Lithium stocks generally weaker, although WC8 up 9.6% on some new drilling results. PLS rose 1.3% with AKE up 1.2%. AZS unchanged as MIN buys in. Gold miners better with NEM up 1.0%. Uranium stocks taking a bath today with DYL off 8.7% and PDN falling 5.0%. Oil and gas stocks ease back on crude falls. In corporate news, WBT up 2.1% on first revenue, WSP gets a 48c cash bid, up 60%. Nothing on the economic front today locally. In Asia, China’s Li says it will boost imports and expand access. Japan plays catch up rising 2.5%, HK up 1.7% and China up 1.3%. 10-year yields at 4.72%.

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