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End of Day – Friday 1 Oct
- The ASX 200 back down by 147 points to 7186 (2.0%) as enthusiasm reverses. Down 2.1% for the week. US Politics taking centre stage and the debt roof in play.
- Banks under serious pressure as moves to rein in extreme house price rises weighs. The Big Bank Basket down 3.3% to $180.20. CBA the worst of the big four as most exposed to the housing sector losing 4.1%. Other financial also hit hard, MFG down 1.8%, MQG off 2.9% and QBE eased 3.0%.
- Industrials were also under serious pressure, ALL down 4.2%, DMP down 6.3%, WOW warning of some closures this weekend as CV19 restrictions bite. TCL fell 1.6% on its last day of rights trading, REH down 5.3% as a housing play and BLD dropped 2.8%. Healthcare in casualty, CSL dropped 1.5%, RMD down 1.8% and RHC off 1.8%.
- In the mining stocks it was reverse all engines, BHP fell 2.0%, RIO down 2.9% and FMG off 2.6%. Lithium stocks were depressed PLS losing 5.4% and ORE down 4.0%. Uranium though finding some support, PDN up 4.4%. Base metal stocks eased, and gold miners were one of the few spots of green grass in a sea of red. NCM up 0.8% and NST rising 2.5%. Tech mixed surprisingly, XRO found some friends up 1.0% but APT dropped 2.1%. The All-Tech Index falling 1.2%.
- Travel stocks firmed as international flights set to resume. Next month. WEB up 2.0% and QAN up 0.7%. Not much on the corporate front.
- In NSW the Premier resigned ahead of an ICAC inquiry and death rate continued at elevated levels. US futures weaker but off lows.
Win up to $3000 by picking the best performing stock on the ASX. Submit your entry for the One Stock Portfolio Competition today.
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By Marcus Today- The ASX 200 back down by 147 points to 7186 (2.0%) as enthusiasm reverses. Down 2.1% for the week. US Politics taking centre stage and the debt roof in play.
- Banks under serious pressure as moves to rein in extreme house price rises weighs. The Big Bank Basket down 3.3% to $180.20. CBA the worst of the big four as most exposed to the housing sector losing 4.1%. Other financial also hit hard, MFG down 1.8%, MQG off 2.9% and QBE eased 3.0%.
- Industrials were also under serious pressure, ALL down 4.2%, DMP down 6.3%, WOW warning of some closures this weekend as CV19 restrictions bite. TCL fell 1.6% on its last day of rights trading, REH down 5.3% as a housing play and BLD dropped 2.8%. Healthcare in casualty, CSL dropped 1.5%, RMD down 1.8% and RHC off 1.8%.
- In the mining stocks it was reverse all engines, BHP fell 2.0%, RIO down 2.9% and FMG off 2.6%. Lithium stocks were depressed PLS losing 5.4% and ORE down 4.0%. Uranium though finding some support, PDN up 4.4%. Base metal stocks eased, and gold miners were one of the few spots of green grass in a sea of red. NCM up 0.8% and NST rising 2.5%. Tech mixed surprisingly, XRO found some friends up 1.0% but APT dropped 2.1%. The All-Tech Index falling 1.2%.
- Travel stocks firmed as international flights set to resume. Next month. WEB up 2.0% and QAN up 0.7%. Not much on the corporate front.
- In NSW the Premier resigned ahead of an ICAC inquiry and death rate continued at elevated levels. US futures weaker but off lows.
Win up to $3000 by picking the best performing stock on the ASX. Submit your entry for the One Stock Portfolio Competition today.
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