Marcus Today End of Day Podcast – Tuesday 7th November

ASX 200 fell 20 points to 6977 (0.3%) after the RBA raised rates as expected by 25bps. Slight rally after the RBA decision and Melbourne Cup. Banks were soft, WBC down 2.7% and ANZ off 1.1% with the Big Bank Basket at $175.44 (-0.9%). MQG down 1.5% under pressure on downgrades across the board, insurers eased, QBE down 0.9% and SUN off 2.1%. REITs mixed, GMG unchanged and GPT up 0.5% with SCG off 1.2%. Tech stocks in demand with WTC up 3.6% and XRO rallying another 1.1%. The All -Tech Index up 0.9%. Industrials firm TLS up 0.3%, TCL up 0.3% and ORG putting on 1.2% as media reports plans in the wind. Healthcare better again, CSL gave up early gains to close up slightly, COH up 1.23%, RMD down 0.5%. Resources were again weaker, lithium stocks slid, PLS down 3.7% and IGO off 0.6%. Gold miners flat, oil and gas eased and coal down again, WHC off 3.0%. Iron ore slightly higher with RIO going well up 0.3%. In corporate news, all quiet as Victoria had a holiday and the Cup took centre stage. GQG fell 1.8% on its latest FUM numbers. On the economic front, RBA raised rates. Asian markets fell Japan down 1.0%, HK down 1.5% and China down 0.4%. Chinese data disappoints. 10-year yields around 4.72%.

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