Market Updates

End of Day Report – Friday 6 September: ASX 200 up 31 | Banks up, resources down


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ASX 200 continued to push slightly higher to 8013 up 31,(0.4%) as once again we saw banks rally to record highs and resources fall to depressing lows. CBA hit a record up 1.5% with the Big Bank Basket up to $246.10 (+1.5%). MQG kicked 2.4% on its Airtrunk win, Insurers doing well, QBE up 1.5% and SUN rallying 1.4%. REITs also doing well as bond yields fell to 3.89% (who needs the RBA). CHC up 2.4% and SCG up 0.9%. Industrials firmed, WES up 1.2% with WOW up 0.8% and COL up 1.5% with retailers also going well, LOV up 1.8% and JBH pushing 1.8% better. Travel stocks slid, FLT down 1.1%.  Tech stocks also slipped a little, WTC ex div down 0.5% and XRO off 1.1%.  Resources stumbled again, BHP down 1.2% with RIO off 0.1% with MIN spiralling lower down another 4.8%. S32 off 2.0% and PLS falling 6.6%. Gold miners mixed, oil and gas troubled, WDS down 3.9% and STO down 1.4% with coal and uranium stocks also dropping yet again. In corporate news, not much really. On the economic front. we had some house lending numbers but all eyes on US jobs numbers tonight. Asian markets dipped, Japan down 0.8%, China off 0.3% and HK closed due to inclement weather.

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