Marcus Today End of Day Podcast – Tuesday 13th February
ASX 200 slipped 11 points to close at 7606 (-0.2%) as results dominated. CSL and MQG were a little disappointing but off lows, JHX dropped 8.5% on a slightly bearish update for Q3, and SEK also suffered a sell-off as results missed expectations down 4.6%. Banks once again the rock steady beat with the Big Bank Basket up to $201.69 (+0.4%) as ANZ announced some job cuts. NAB doing fine up 0.9% and CBA slightly higher pre-results tomorrow. Financials were mixed with CGF doing well on annuity sales up 8.4% and insurers firming. Industrials mixed, retail saw BRG drop 8.5% on results, JBH firmed on broker upgrades, up another 5.6%, and CAR slid into the slow lane on comments post results, off 2.0%. Tech stocks saw a sell-off sparked by SEK, with the All-Tech Index down 1.2%. In resources, some support for gold miners as NST found buyers up 1.0% and NEM up 2.0%. Iron ore stocks mixed, FMG down 0.7% and lithium mixed. Uranium sideways and oil and gas are steady. In other corporate news, SWM slumped 10.9% on ad sales numbers, STX crashed 25.0% on flow issues at South Erregulla 3 in the Perth Basin. On the economic front, WBC-MI consumer confidence rose to its highest level since Juen 22. RBA’s Kohler holding forth on the inflation outlook. 10Y yields steady at 4.18%. Asian markets still mostly closed for NY, Japan up 2.7%. Dow Futures down 57 points. NASDAQ Futures down 33 points.
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