Marcus Today End of Day Podcast – Monday 11th December

The ASX 200 rose only 4 points to 7199 (0.1%) after a promising start was ambushed by resource stocks falling. Lithium and gold stocks fell with some of the big lithium names seeing selling resume. PLS down 3.0% as a new chair was appointed. MIN off 1.1% and AKE up 1.0%. Iron ore stocks stalled, BHP down 0.4% and RIO unchanged. Gold miners eased back as bullion suffered from the higher USD. NEM down 1,2% and NST off 2.1%. Oil and gas saw some buying, WDS/STO both slightly better with KAR up 0.5%. Banks up but off highs with the Big Bank Basket stable at $182.79. MQG fell 0.1% and insurers eased back slightly. Healthcare was better with CSL and RMD up 0.3% and REITs mixed, GMG down 0.4%. Industrials flat amidst pockets of strength, WES up 1.1% and WOW up 0.8%. Tech mixed with the All-Tech Index unchanged. In corporate news, PGH saw another bid from Kin at 84c, up 22.6%, BUB unchanged on a trading forecast update, CGC fell 3.9% as the outlook dims, SKC has settled with Macquarie over its car park stoush. In economic news, immigration targets the big news today. IEL fell 2.2% on the news. Asian markets mixed with China and HK still weak. 10-year yields around 4.33%.

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