Market Updates

End of Day Report – Friday 22 August: ASX 200 drops 52 | Results disappoint


Listen Later

The ASX 200 back below 9000 to 8967, down 52 points (0.6%) as results weighed after a long week. Banks remained firm with WBC up 0.7% and NAB slightly firmer, the Big Bank Basket drifting to $288.16 (-0.2%). Other financials also drifted lower, GQG fell 3.0% after early gains. Insurers firmed, ASX fell 2.1%, and ZIP soared 20.2% on better results. REITs were under pressure as GMG fell 4.8% on broker comments, SGP and CHC both better. Industrials slid, BXB saw some profit-taking, QAN dropped 2.1%, and ALL off 1.7%.

Retail stocks also eased back, PMV down 4.0% and JBH falling 1.6%. GYG collapsed 18.2% after the results and a trading update. CTD in a trading halt awaiting some material news. Tech stocks eased back too, WTC down 1.8% and XRO continuing to fade. Down 0.6%. The All-Tech Index up 0.2%. WOW and COL under pressure. CSL resumed the downward momentum, off 4.2% as TLX trundled higher.

In resources, BHP slightly lower, RIO fell 1.1%, and gold miners were mixed. WAF up 3.3% and VAU up again post results. Lithium stocks fell, PLS down 4.5% and MIN off 3.2%. Uranium stocks better, PDN up 4.3% and DYL rising 3.8%. Oil and gas firmed, coal stocks eased.

In corporate news, ING dropped 20.3% as Woolies contract took its toll, HLS rallied 18.6% after results, AX1 dived 17.8% on disappointing sales growth, MVF fell 13.7% on disappointing profits and outlook.

Nothing much on the economic front.

Asian markets mixed again, Japan flat, China up 1.7% and HK up 0.5%

European markets opening flat. US Dow futures down 18 Nasdaq down 32.

Want to invest with Marcus Today? The Managed Strategy Portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you.

If you’re looking for personal financial advice, our friends at
Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.
 
 Why not
sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.

...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

12 Listeners

Motley Fool Money by LiSTNR

Motley Fool Money

89 Listeners

NAB Morning Call by Phil Dobbie

NAB Morning Call

22 Listeners

The Money Puzzle by The Australian

The Money Puzzle

46 Listeners

Your Wealth by NAB

Your Wealth

8 Listeners

The Rules of Investing by Livewire Markets

The Rules of Investing

15 Listeners

Equity Mates Investing Podcast by Equity Mates Media

Equity Mates Investing Podcast

61 Listeners

Australian Investors Podcast by Rask

Australian Investors Podcast

30 Listeners

Money of Mine by Mineral Media

Money of Mine

24 Listeners

Buy Hold Sell, by Livewire Markets by Livewire Markets

Buy Hold Sell, by Livewire Markets

4 Listeners

Podcast Archive by Marcus Today

Podcast Archive

0 Listeners

The Call from ausbiz by ausbiz

The Call from ausbiz

6 Listeners

Investing Compass by Morningstar Australia

Investing Compass

27 Listeners

The Money Café with Alan Kohler by Intelligent Investor

The Money Café with Alan Kohler

33 Listeners

On the Couch by Marcus Today

On the Couch

6 Listeners

Chanticleer by Australian Financial Review

Chanticleer

16 Listeners