Market Updates

End of Day Report - Thu 16 Dec


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  • The ASX 200 fell 31 points 'CSL adjusted' today to 7296 (0.4%). CSL accounted for 34 negative points after falling 8.2% to issue price as huge capital raising weighs. SPI expiry bumps volume. Over $1bn worth of trade in CSL. Suspect instos selling to retail. Banks fell with the Big Bank Basket down to $193.93 (0.01%), QBE continues to fall down 2.3% with MFG finding some support in fund managers. Healthcare was weighed down by the CSL drop. FPH dropped 2.7%, RMD down 1.2% and RHC dropping 0.8%.
  •  Industrials mixed but uninspiring. ALL up 0.5% and REITs finding support again, GMG up 1.6%. Tech stocks better following Nasdaq higher, WTC up 6.9% and APT finally finding some building blocks of support up 1.7%. The All-Tech Index up 1.6%. Miners enjoyed some gains, BHP fell 1.0% but FMG rose 0.9%, Gold miners were mixed NCM up 0.3% and NST up 0.8%. Energy stocks unloved, WPL down 1.3% and STO falling 1.5%. WSA now has cash on the table, IGO rose 1.4% in response with PAN doing well up 8.2%. 
  • In more corporate news, MSB had some good news from US up 10.9%, IDT tumbled 39.6% after missing out on government mRNA to Moderna. 
  • Plenty of economic news, the MYEFO out and a trillion-dollar debt looms, Frydenberg bullish on jobs, unemployment shot the lights out with a huge 366,000 jobs added and a headline rate of 4.6%. Philip Lowe was also talking in Wagga too talking taper finishing in May next year. 10 -year yields picking up to 1.58%.


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Market UpdatesBy Marcus Today


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