Marcus Today End of Day Podcast – Wednesday 6th December

ASX 200 romped ahead by 117 points to 7178 (+1.7%). All is forgiven after the losses of yesterday, even lithium staged a significant comeback. This despite falls in international lithium stocks. AKE up 3.0%, PLS up 5.6% with some large blocks traded, MIN rose 4.2% with iron ore miners not even stirred by news from RIO on Simandou, RIO up 0.7% and BHP rising 1.5%. Base metals better, Gina will be happier as LTR rose 6.1% and CHN up 10.8% on access permits. Gold miners mixed with EVN dropping 13.0% on the placement and acquisition fallout. Looks overdone. NST up 1.0%, and oil and gas stocks rallied too. WDS up 1.1%, and BPT rising 1.4%. BPH continued to backfill down 9.6%. Banks shot up, with NAB leading the way, up 1.9% and CBA up 1.6%. The Big Bank Basket up to $182.15 (+1.6%), with MQG up 1.8%. REITs kicked, GMG up 1.8% and SCG up 3.7%. 10-year yields down to 4.3%. Other financials also doing well, PPT up 6.3% and MFG up 3.6%, with its latest FUM up despite outflows. Healthcare better, CSL rallying another 1.7% with RMD up 0.9%. Industrials firmed across the board, TLS up 1.9%, TCL up 0.7% and staples rallying hard, WOW up 1.9% and COL up 2.4%. Tech sparking higher, WTC up % and XRO up %. The All-Tech Index up 1.7%. In corporate news, EVN was the standout story, Chemist Warehouse is heading for a reverse takeover listing through SIG. EDV held an update with a hotel earnings target of $150m. WDS signed a sales deal with Mexican Pacific. On the economic front, GDP expanded 0.2% in the third quarter, less than the previous quarter’s 0.4% and consensus. Asian markets firmed, Japan up 1.8%, HK up 0.7% and China down 0.1%. Dow Futures up 64 points. NASDAQ Futures up 66 points. 

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