Market Updates

End of Day – Mon 11 Jul


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  • 1. ASX 200 fell 76 points to 6602 (1.1%) on next to no volumes. Closed on day low. US futures turned negative with big week ahead and profit taking hitting last week’s winners. Banks fell with the Big Bank Basket down to $162.85 (0.2%). MQG slipped 1.7%, ASX off 1.8% and MFG rose 0.8%. Insurers held up as bond yields rose to 3.53%. Healthcare mixed, CSL up 0.2% with FPH and RMD snoozing, Industrials slipped, WES down 0.7%, TCL off 0.8% and GMG led REITs lower falling 1.6%. ‘Old skool’ platforms, REA down 4.2%, SEK off 4.7% and CAR crashing 2.8%. Tech stocks back in the seller’s sights today with second liners smacked again, DUB down 18.0%, PBH down 9.5% and CDA falling 6.2%. DMP dropped 6.3% on a broker downgrade. Resources were weak, BHP fell 3.1%, FMG off 2.6% with gold miners falling as NCM dropped 2.5%. Base metals and lithium stocks pushed lower S32 down 2.7% and PLS off 2.6%. Oil and gas was a bright spot, WDS up 0.2% though STO fell 0.4%. 
  • In corporate news, EML lost a CEO falling 24.6%, LNK up 0.3% after knocking back Dye and Durham offer rejected. CGC fell hard, halted and came back with a business update and bounced at the close down 8.0%. GAL had some good assays rising 5.9%. 
  • In economic news, building approvals fell 1.5%. Asian markets mixed with HK tech down heavily but Tokyo up 1.2% on election result. 10-year yields 3.53% 

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Market UpdatesBy Marcus Today


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