Marcus Today End of Day Podcast – Thursday 21st December

ASX 200 falls only 34 points to 7504 (0.5%). We performed better than SPI suggested as US futures rallied a little. Volume and news was a little light on as we approach the Xmas break. Banks eased back slightly with the Big Bank Basket down to $189.72(-0.3%). ANZ slightly higher after AGM comments, MQG slid 0.9% and other financials eased, GQG down 5.0%. REITs eased too as bond yields fell to 4.01%. Industrials were mixed with TCL up 0.9%, BXB up 1.0% and staples a little weaker. Nothing significant. Healthcare in a similar vein, CSL eased 0.5% with RMD up another 0.7%. In resources, lithium stocks under pressure as Macquarie downgraded underlying lithium prices, PLS fell 3.4%, LTR down 8.3% on a royalty issue. Gold miners slipped a little, NEM down 1.6% and oil and gas off too. In corporate news, In corporate news, SFR has issued an update on the Motheo copper mine. TIE maintains its unanimous recommendation for holders to reject Zhaojin's offer. RPL fell 2.2% after it successfully concluded the acquisition of PM Capital Ltd, as previously announced. Meanwhile, BUB has secured $17m for its US expansion efforts. Nothing on the economic front except a jump in household wealth by 2.3% in Sept quarter. Asian markets fell on US falls, Japan down 1.6%, HK down 0.2% and China up 0.5%.

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