Market Updates

End of Day Report – Thursday 6 November: ASX 200 closes up 26 | NAB down 3.3% on results


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The ASX 200 managed to cling to small gains today, up 26 points to 8828 (0.3%).

NAB fell 3.3% after results saw some profit-taking on low growth, WBC down 1.2% as it went ex-dividend. Insurers were better, with QBE up 1.7% and MPL up 0.8%, while other financials remained sloppy and weak.

Industrials generally mixed — TLS up 0.6%, TCL up 0.8%, and ALL rising 1.3%, with WES slipping 1.2% again, and JBH falling 3.1%. Travel stocks also fell, WEB down 2.7% and FLT losing altitude, off 1.4%.

One bright spot was LNW, up 8.2% on a better-than-expected quarterly. DMP also gained 4.7% as shorts covered, just in case. Tech was slightly firmer as WTC rallied 0.6% and XRO up 0.5%, with the All-Tech Index up %.

Resources firmed — BHP up 1.6% despite iron ore falling again, RIO also doing well. Gold miners were better on a bullion price increase, NST up 2.8% and NEM rising 2.8%. Rare earths were still under some pressure, as was the uranium space, while oil and gas firmed, WDS up 1.6%.

In corporate news, ZIP fell 4.2% after its AGM reaffirmed guidance — perhaps the market was looking for another upgrade. JHX tumbled again, down 12.7%, as it went into a trading halt and blamed index rebalancing for the earlier sell-off. TAH dropped 3.0% as Aware Super sold down, and AMC rallied 5.0% on first-quarter results.

On the economic front, Balance of Payments data was released today, showing the seasonally adjusted balance on goods increased by $2.827bn in September.

Asian markets - HK up 1.6% China up 1.3% and Japan bouncing 1.6% 10-year yields squeezed to 4.36%.

US Futures, Nasdaq down 19. Dow up 13. Tesla vote tonight.

European markets set for a flat opening.

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