Marcus Today End of Day Podcast – Thursday 7th December
ASX 200 fell 5 points to 7173 (-0.1%) in a day of consolidation. Plenty of corporate news around, from Chemist Warehouse's reverse takeover to MFG FUM and MGF deal. Plus, we saw a bid for PPT up 6.7%. Banks eased back slightly, with NAB down 0.4% and MQG down 1.4%, with the Big Bank Basket steady at $181.97. Insurers fell heavily as yields slipped to 4.28% in the 10s. QBE down 2.8%, and SUN down 1.8%. REITS mostly formed though GMG fell 0.7%. Healthcare eased back, with CSL down 0.4% and RMD off 0.6%. Industrials were lower, BXB down 1.0%, ALL off 1.2%, and TLS fell 0.3%. Tech mixed, All Tech Index up 0.4%. Resources were mixed again, iron ore miners better, RIO up 1.0% and FMG up 1.6%, with BHP lagging on some C-Suite changes. Lithium stocks pushed higher as PLS continued its rally up 5%. MIN up 1.7%, and IGO rallying 2.7%. Gold stocks struggling to gain traction, EVN trying to stabilise up 1.4%. Uranium stocks remained under pressure after BOE acquisition and placement. Oil and gas are remarkably stable, WDS up 0.4% and STO rising 0.7%. In more corporate news, 4DX readies $30m placement, rumours that WDS and STO have been exploring a merger. SWM announced its CEO was stepping down and GQG partners revealed FUM grew US$9bn. In economics, our trade surplus widened in October on exports driven by metal ores and minerals and a decline in imports. Asian markets eased again, with Japan down 1.2%, China off 0.2% and HK off 1.3%. Dow Futures down 26 points. NASDAQ Futures down one point.
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