Market Updates

End of Day Report – Monday 10 March: ASX 200 up 14 in quiet trade | SGR rescue plan


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A quiet muted start to the week with the ASX rising a modest 16 points to 7964 (0.2%) as US futures pointed to another tricky US session ahead. Banks were flat with the Big Bank Basket easing to $241.33 (-0.3%). MQG down another 0.4% with insurers looking better as Cyclone Alfred was downgraded. REITS improved led by GMG up 0.6% with some bottom fishing taking place. Industrials a mixed bag too, QAN off 1.7% and ALL down 0.5% with retail steady, APE rose 3.3% with JBH up 0.8%. Some buying in BXB and CPU with TLS off 1.0%. Tech stocks mixed, WTC off 1.1% and XRO up 0.6% with the All-Tech Index up 0.1%. Resource stocks were generally firmer, BHP rallied 0.6% with RIO doing very well up 3.1% as the capital raise looks to have been put on ice. FMG still struggling. Gold miners still in demand, NEM up 0.6% and VAU up 3.7%. MIN had a good day up 3.3% with PLS rallying too. Oil and gas stocks also finding friends, WDS up 1.9% and BPT up 4.1%. Uranium still toxic, BOE down 3.9% and NXG off 1.4%. In corporate news, GQG were off 0.9% on FUM, JLG fell 12.5% on index changes due on March 25th. SGR looks to have had a last-minute rescue attempt from Bally although it remains in a trading halt. Nothing on the economic front. Asian markets mixed, China down 0.9% and HK off 2.1% with Japan up 0.3%.10-year yields at 4.44%.

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Market UpdatesBy Marcus Today


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