Market Updates

End of Day Report – Monday 12 August: ASX 200 up 36 points - JBH Good - AZJ Bad - BPT Ugly


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ASX 200 rose 36 points to 7814 (+0.5%) in quiet trade. Just for a change, banks led the market higher, as we wait for CBA numbers on Wednesday. The Big Bank Basket rose to $222.96 (+0.8%). Other financials were also firm: QBE and SUN were up around 0.9% and 1.4% respectively, with MQG up 1.3%. REITS eased back slightly, with the exception of GMG, which rose 1.3 %. Industrials firmed: WES was up 1.6%, REH was up 1.2%, and retailers got a shot in the arm from JBH results, which beat expectations. Tech rose with the All-Tech Index up 1.5% as WTC rose 2.7% and XRO put on around 1.4%. Resources were a different story; iron ore majors drifted lower, as Iron ore slumped 2% to $US98.80 a tonne on the Singapore exchange. RIO down 1.4% with lithium depressed again, PLS down 2.9%, and MIN falling 3.8%. Gold miners were mixed, oil and gas fluffing about and uranium flat (not falling anymore at least). In corporate news, JBH results beat estimates, rising 8.3%, CAR had some good numbers and a positive outlook up 4.5% and AZJ underachieved falling 8.8%. BPT disappointed again, falling 12.6%. Nothing on the economic front locally, Japan closed for Mountain Day, China and HK flat. 10-year yields softened to 4.04%. European markets opening slightly firmer.

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