Marcus Today End of Day Podcast – Wednesday 14th February
ASX 200 fell 56 points bouncing off 7500 to close at 7538 (-0.7%). Results and broker talk dominated again with a negative lead from Wall Street colouring the landscape. Banks under pressure following CBA results showing NIM remains under pressure CBA fell 1.7% well off lows. The Big Bank Basket down 1.6% with CBA in profit-taking mode post results, WBC off 1.8% and MQG falling 0.2% but could have been worse. Other money managers eased, CGF slipped 0.8% on broker comments. Insurers fell slightly, QBE off 1.2% ahead of results. REITs saw sellers, SCG off 1.6% and SGP down 1.7%. Healthcare under pressure as CSL slipped 0.7% with RMD down 0.5%. Tech also down, WTC off 1.6% and REA down 0.8%. SEK results and comments saw selling down 5.2% with the All-Tech Index down 0.7%. Industrials mixed, Defensives held but retailers suffered. TPW rose 2.9% on good numbers. Resources were once again under pressure as commodities slipped, BHP down 0.8% and FMG falling hard down 2.1%. Lithium stocks a little depressed, PLS off 0.9% and MIN down 1.0% but some, SYA and CXO, seeing good bottom fishing. Gold miners eased, NST down 3.3% as bullion fell in USD. Oil and gas unchanged, Coal eased. In corporate news, AMP rose 10.3% on better than expected numbers and outlook, GNC got smashed 12.3% on guidance halved, FBU returned and no good news. DOW added 11.1% as the turnaround continues, IEL up 8.3% on better numbers. SVW also a winner from results up 7.0%. In economic news, all quiet. Some Asian markets back from NY, HK up 0.2% and Japan off 0.9%. 10Y yields up to 4.28%. Dow Futures down 16 points. NASDAQ Futures up 12 points.
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