Marcus Today End of Day Podcast – Tuesday 19th December

ASX 200 up 63 points to 7489 (0.8%) in another strong across the board rally. RBA minutes helped, BoJ staying pat helped and takeovers helped. Solid gains across the board. The Banks continue to march higher, CBA up 0.6% and WBC charging 0.8% ahead. The Big Bank Basket up to $189.23 (+0.5%)). MQG kicked and insurers firmed, QBE bouncing 3.9%, SUN up 2.2%. REITs also in demand, GMG up 2.0% and SCG better by 0.3%. Industrials grinding higher, TCL up 1.7% WES up 1.3% and ALL up 2.0%. QAN slipped slightly down 1.7% with Tech better, WTC up 1.1% and XRO rallying 1.6%. Healthcare also better, CSL up 0.6% and RMD finding buyers up 0.6%. In resources, iron ore miners hitting highs despite Singapore iron pre slipping again. BHP up 0.6% and FMG up 1.1% putting Krug on Twiggy’s table. Gold miners slightly positive, NST up 1.4% with lithium stocks mixed. LTR up 11.3% as shorts worry about Gina and Albemarle teaming up perhaps. AZS up 1.7% as SQM and Gina teamed up with a $1.7bn bid. Oil and gas stocks better on Red Sea issues, WDS up 1.7% and BPT finishing 3.2% higher. In corporate news, AKE shareholders say yes, here at least, AGL up 0.6% on plans for its 500MW battery plant. GEM surged 13.6% on a marked improvement in the second half, PFP buying 3 funeral business, and ORG up 3.2% after getting its hands on another GBP280m investment in Octopus (UK). On the economic front, RBA minutes out, considered a rate rise but as we know didn’t raise rates. Somewhat sidelined now, ANZ-Roy Morgan survey out, slight improvement, Japan kept policy on hold for the third or fourth decade. Japan up 1.1%, HK continues to slide down 0.6% with China unchanged. 10-year yields down to 4.11%.

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