Market Updates

End of Day – Fri 8 Apr


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  •  The ASX 200 finished the week up 35 points at 7478 (0.5%). Quiet trade with caution ahead of the weekend. Banks were slightly higher with CBA and ANZ showing gains, the Basket closed at $189.45 (0.2%). MQG bounced with a 0.8% gain, MFG fell back 1.6% and PTM had outflows to FUM and outflows to the share price falling 15.0%. Healthcare mixed, CSL down 0.3%, Industrials firmed, TLS up 1.3% and TCL up 1.0% with GMG better with a 0.2% gain. Miners were back in shopping baskets as BHP rose 1.7% as an independent report pronounced the WPL deal fair and reasonable. WPL down 1.5%. FMG rose 0.4% and gold miners firmed as bullion rose, NCM up 2.9% and EVN up 2.1%. Lithium stocks bounced as bargain hunters stepped in and UBS upgraded price forecasts. AKE up 2.2%. SYA up 6.8% and MIN up 2.2%. IGO fell 1.7% as the WSA talks continue. 
  • Uranium stocks were glowing red hot as French elections this weekend and UK embraces nuclear power too. PDN up 13.1%, BOE up 8.4% and ERA finding buyers up 4.7%. Tech stocks were mixed, WTC down 1.6% and SQ2 fell 1.4%. The All-Tech Index flat. 
  • In corporate news, not much really, SGR fell 2.8% on its licence review update and BHP/WPL merger ticked another box. 237-page merger explanatory memorandum released. Vote 19th May. 
  • On the economic front, the RBA released its financial stability report and Asian market were a little weaker. 10 -year yields hit 3% then backed off to 2.96% 

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Market UpdatesBy Marcus Today


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