Market Updates

End of Day Report – Friday 17 May: Banks and Industrials Falter


Listen Later

ASX 200 fell 67 points to 7814 (-0.9%) as broad-based losses after a huge run yesterday. Index up 0.84% this week. Banks eased back despite an 8.2% run in BEN after results beat expectations. The Big Bank Basket fell to $210.47 (-0.6%). MQG dropped 1.3%, and other financials under pressure. Insurers slid, QBE down 1.5% and SUN off 0.2%. MPL dropped 2.2% as hacking concerns remain. REITs under pressure today, with GMG down 1.1% and GPT falling 2.9%. Healthcare was whacked, CSL down 2.4% and SHL off 1.5% with RHC falling 1.9%. Industrials also eased, WOW down 0.6% with COL off 0.9%. Tech fell back after a stellar run yesterday, XRO fell 5.1%, with the All-Tech Index down 2.1%. Retail is under pressure, with PMV down 2.0% and LOV off 2.7%. DMP stuffed crust down 3.2%. Travel stocks on the nose too. Resources were better, Iron ore stocks continued to find friends, BHP up 0.8% and FMG up 1.2%. Lithium, too, saw buyers, PLS up 2.2%, and LTR rising 4.9%. Gold miners fell as bullion dropped, NST down 1.7% and NEM down 1.3%. Oil and gas stocks continued to be unloved, WDS off 1.5%. In corporate news, BEN rose 8.2% as trading update, and margins were better than expected. LLC fell 2.1% after it agreed to sell its Asian businesses, SGR had the casino licences in QLD suspended now until December 24, down 2.2%. Nothing locally on the economic front, China saw some positive and negative data, as usual, it's complicated. Asian markets were quiet, Japan up 0.3%, HK up 0.6%, and China up 0.3%. 10-year yields at 4.21%.

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.

...more
View all episodesView all episodes
Download on the App Store

Market UpdatesBy Marcus Today


More shows like Market Updates

View all
CommSec Market Update by CommSec

CommSec Market Update

11 Listeners

Motley Fool Money by LiSTNR

Motley Fool Money

87 Listeners

NAB Morning Call by Phil Dobbie

NAB Morning Call

20 Listeners

The Money Puzzle by The Australian

The Money Puzzle

41 Listeners

Your Wealth by NAB

Your Wealth

7 Listeners

The Rules of Investing by Livewire Markets

The Rules of Investing

9 Listeners

Equity Mates Investing Podcast by Equity Mates Media

Equity Mates Investing Podcast

52 Listeners

Australian Investors Podcast by Rask

Australian Investors Podcast

19 Listeners

Buy Hold Sell, by Livewire Markets by Livewire Markets

Buy Hold Sell, by Livewire Markets

3 Listeners

Podcast Archive by Marcus Today

Podcast Archive

0 Listeners

FEAR & GREED | Business News by Fear and Greed

FEAR & GREED | Business News

12 Listeners

The Money Café with Alan Kohler by Intelligent Investor

The Money Café with Alan Kohler

29 Listeners

On the Couch by Marcus Today

On the Couch

4 Listeners

Chanticleer by Australian Financial Review

Chanticleer

17 Listeners

The Fin by Australian Financial Review

The Fin

17 Listeners

5 in 5 with ANZ by ANZ

5 in 5 with ANZ

3 Listeners