Marcus Today End of Day Podcast – Monday 4th December

ASX 200 rose 52 points to 7125 (0.7%) in a very solid day although off highs. Gains in most sectors with the Banks up again CBA up 0.9% and NAB up 0.8% with the Big Bank Basket at $179.61(0.7%). MQG rose 0.7% with other financials doing well, ASX up 0.6% and SUN up 0.4% on ACCC hopes. QBE dropped 3.2% with other insurers easing back. REITs higher again, GMG up 1.4% and SCG up 1.5% with healthcare also firm, CSL up 0.5% and RMD bounce continues up 1.5%. Industrials looking good, TCL up 0.4%, WOW and COL firmed despite inquiries proposal into price gouging. WES rose 1.0% with tech better led by WTC up 1.9% and XRO up 1.7%. Iron ore miners and gold the stand outs in resources, BHP up 1.7% and RIO firing 1.6% higher. Gold hit an all-time high with NEM doing well up 2.9% and NST up 3.7%. Lithium stocks remain depressed but uranium in demand DYL up 6.4% with PDN up 1.9%. Oil and gas under pressure, WDS down 1.6% and STO off 1.2%.

In corporate news, ORG Plan A was voted down as expected, the stock halted down 3.9%, MTS up 1.1% after 1H results, PGH unchanged as its offer was extended and ORA is now officially the owner of Saverglass.

In economic news, The value of new owner-occupier loan commitments for dwellings rose 4.9%in October 2023. Asian market were weaker with Japan down 0.6%, China down 0.3% and HK down 0.6%. 10-year yields at 4.46%. Gold at all-time highs.

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