Market Updates

End of Day Report – Thursday 3 October: ASX 200 up 7 in quiet range bound trade


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ASX 200 rose 7 points in quiet range-bound trade to 8205 (+0.1%). Banks flat with the Big Bank Basket unchanged at $232.40; financials were slightly firmer as SOL rose 1.1% and ASX up 1.2%. Insurers eased back, QBE down 0.3% and REITs bounding ahead, GMG up 1.6% and SCG up 1.7%. Industrials drifted around, BXB up 0.5% and ALL down 0.6% with GYG under pressure on a broker downgrade. Retail stocks fell, PMV down 0.9% and LOV off 0.8%. IEL slid 2.9%. Resources were generally weaker, gold miners fell with EVN off 1.3%, NST down 1.0% and RMS down 2.3%. BHP bucked the trend up 0.7% with FMG easing back slightly. Lithium stocks were under pressure again, PLS saw a large block traded and fell 4.8% with LTR down 4.4% and IGO off 2.2%. MIN dropped 1.5%. Uranium stocks saw a little profit-taking. Coal down and oil and gas mixed, WDS up 0.6%. In corporate news, WBC completed the sale of its car loan book to RMC. ORG has abandoned its hydrogen plans. Apparently, a lot of hot air. In economic news, BoP numbers out. The IMF also passed judgment on the Federal government and said the rates may have to go higher whilst touting tax reform. Asian markets saw profit-taking in HK, China closed, and Japan +1.2% ahead as rates seem in limbo. 10Y yields steady at 3.99%. Dow Futures down 65 points and NASDAQ Futures down 60 points. 

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