Market Updates

End of Day Report – Thursday 27 February: ASX 200 up 28 | Resource rally, results in focus


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ASX 200 pushed 28 points higher to 8268 (0.3%) as results nearly finished. Banks were flat with ANZ up 0.5% and WBC up 0.4% with the Big Bank Basket at $253.25 (). Health insurers raced away on results and increases from April 1. REITs not doing much, GMG down 0.2% as it released the SPP details. Industrials mainly firmer, WTC still suffering down 2.6% with COL reporting and rallying 3.5%. QAN results and special dividend cheered up 5.6% and retail slightly firmer, LOV up 0.5% and PMV up 0.9%. BAP had a solid reaction day up 5.3% and APE shot the lights out, up 19.9% on better-than-expected numbers. IEL crashed 7.6% on worse than expected results. In resources, iron ore stocks found some friends, BHP up 0.8% and FMG up 1.7%. Gold miners pushed higher again, aided by a lower AUD, NEM back up 1.9% with EVN up 1.5%. Lithium and rare earths slightly firmer, PLS up 0.5% and LYC up 0.6%. Energy stocks saw some bargain hunting, STO up 1.2% and KAR posting better than expected numbers up 4.7%. Uranium stocks showed a glimmer of light, NXG up 4.5%. In corporate news, PME fell 3.7% on a 4m share block trade from the founder. NEU jumped 8.9% on better Daybue numbers. RHC jumped 6.8% after it appointed Goldmans to potentially sell its 52.8% in the European business. Nothing on the economic front. Asian markets drifted lower, Japan up 0.4%, HK off 1.1% and China down 0.4%. 10-year yield at 4.34% 

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