Market Updates

End of Day Report – Monday 15 September: ASX 200 fights back to close down only 12 | ANZ cops fine


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The ASX 200 fought back from earlier steeper losses to close down only 12 points at 8853 (0.1%). Banks held firm with ANZ copping a massive $240m fine from ASIC for dodgy conduct over the years. The Big Bank Basket fairly flat at $284.41 (). Wealth managers eased back, HUB fell 2.8% with NWL down 3.1% and SOL falling 5.2% on its last day of trade before merger. REITs generally firm with SGP up 0.6% and BWP up 2.2%. Healthcare remains in ICU with CSL falling another 1.6% and RMD down 1.4%. Industrials showed a tinge of green, SGH up 1.1% and ALL bouncing 2.2% after losses last week. In tech stocks, WTC rose 2.9% after Richard White disclosed a sale of a small parcel! XRO continued to trend lower again, down 0.6% with the All-Tech Index up 0.1%. In resources, Chinese data came in weaker than expected, BHP fell 0.6% with gold miners seeing some profit taking after a huge run in the last few weeks. EVN down 5.3% and NST falling 1.9%. GOR issued a production downgrade and fell 0.3%. Lithium stocks perked up, MIN up 3.2% and PLS being squeezed higher again, up 9.1%. VUL had a great run as shorts covered too, up 11.7%. Mixed in uranium with PDN up 1.8% and BOE flying up 7.9%. Oil and gas stocks showing limited gains, STO up 0.9%. 

In corporate news, EHL raced ahead on bid speculation. BUB has a new Chair. 

Nothing on the economic front locally. Chinese data came in weaker than expected prompting hopers of more stimulus. Asian markets pushed higher, Japan up 0.9%, China up 0.2% and HK unchanged.

10-year yields at 4.27%.

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