Marcus Today End of Day Podcast – Tuesday 23rd January
ASX 200 rises another 38 points to 7515 (0.5%) as banks and iron ore miners lead the market higher. The Big Bank Basket continuing higher, $197.85(0.75%). MQG doing well on market rally, up 1.6%. Insurers firm as QBE rises 0.6% and IAG up 1.5%. REITS steady not going too far. Industrials firm, staples doing ok, WOW up 0.8% and COL up 0.6%, ‘old skool’ stocks up too, CAR up 1.1% and REA up 1.7%. Tech mixed, XRO down 1.2% and WTC up 2.7%. All-Tech Index up 0.7%. Resources picking up a little, iron ore stocks better on China stimulus moves, BHP up 1.0% and FMG up 0.8% with base metals finding some friends, S32 up 4.1% and IGO up 2.7%. Lithium stocks a little mixed, nothing in the oil and gas stocks. Coal similar. In corporate news, KAR issued a production update highlighting some technical issues with Bauna, down 4.0%. JDO had a great day on far better results than expected, up 16.6%, IEL dropped 5.9% on moves by Canada to limit student numbers. VEA lost 0.3% on gross refiner margins. Nothing on the economic front local, BoJ kept rates unchanged and China threatening to throw big money at the market. Asian markets mixed, Japan at 34-year high. China flat but good bounce from HK up %. 10-year yields down to 4.19%.
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