End of Day Report – Monday 6 May: WBC Cheers Ahead of RBA
ASX 200 puts on another 53 points to 7682 (0.7%). Banks firing up with the Big Bank Basket up to $207.14 (+1.3%) with WBC up 2.7% reporting in line and a special dividend and an increased buyback. MQG is finding some broker love, up 1.5%, and Insurers are weaker as yields fall. MFG with FUM numbers unchanged and GQG continuing higher. REITs doing ok, GMG sees buyers on increased data estimates, up 4.4%. Industrials mixed with WES up 1.2% after an investor day last week, WOW and COL still struggling for support. QAN up 0.3% after settling with the ACCC on the ‘ghost flights’. Tech slightly higher, TLS up 0.3% and healthcare sideways. In resources, the ‘Three Amigos’ rallying on better Iron ore prices, BHP up 0.8% and FMG up 2.6%. Lithium not doing much. Same with golds and oil and gas going nowhere in a hurry. On the corporate front, GNC slumped 3.6% on margin issues, THL crashed 36.8% as van sales and bookings hit a wall. IGL chair Geoff Selig has passed away unexpectedly. On the economic front, nothing today. Asia markets better, China up 1.3% and HK down 0.1%. Japan closed for a holiday. 10-year yields 4.38%.
Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.
Ready to invest in yourself? Join the Marcus Today community.
Create your
podcast in
minutes
It is Free