Marcus Today End of Day Podcast – Wednesday 13th December

ASX 200 rose another 23 points to 7258 (0.3%) in another solid day. Once again banks led us higher with the Big Bank Basket up to $185.04 (+0.8%). WBC leading the charge. MQG had a good day up 1.5% but insurers slid with IAG down 3.2% and SUN off 1.0%. REITs were mixed, GMG bouncing nicely, SCG down %. Healthcare also picking up, CSL up another 1.1% and RMD doing ok, up 1.2%. Tech stalled and industrials a little flat, WOW down 0.7% and EDV down 1.0%. TCL picked up 0.2% on lower rates. Resources once again dominated by iron ore stocks with FMG up 1.3% to an all-time high, BHP rose 0.7% and RIO up 0.8%. Lithium stocks flat, gold miners under pressure again, NST down 1.1% and NEM off 2.8%. Sentiment turned full circle in a week. Oil and gas stocks fell, WDS off 1.1% and STO down 0.1%. Not even a merger could save them today. In corporate news, SIG returned to trade up 40.00% having raised $400m to fund operations and get the Chemist Warehouse deal done. AIZ fell 2.5% on a downgrade. On the economic front, the Albanese government released the MYEFO, no real surprises and no real stimulus or help for those suffering from cost-of-living pressures. In Asian markets, Japan up 0.3%, China off 0.9% and HK off 0.7%. 10-year yields fell back to 4.27%.

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