Market Updates

End of Day Report – Tuesday 14 January: ASX 200 up 39 | Iron ore back above US$100


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ASX 200 rallied 39 points to 8231 (0.5%) with a better US market giving us the lead. Banks though were once again weaker as resources continued to find buyers. All change for 25! BHP rose 1.4% on stronger iron ore prices, FMG rallied 2.9% with gold miners also better despite falling bullion prices, a broker report helping sentiment. NST up 1.9% and EVN up 1.3% with lithium stocks finding friends, MIN up 2.0% and LYC up 1.6%. Energy stocks once again better, WDS up 0.5% and coal and uranium stocks better, PDN up 3.4% and WHC up 6.6%. Banks slipped ever so slightly with the Big Bank Basket at $249.96 (-0.3%). Insurers rose and other financials mixed. PNI down 1.9% and ZIP falling 1.4%. REITs improved with GMG up 0.4% and SCG rising 1.1%. Industrials better, retail though still under pressure. JBH off 1.6% and PMV and MYR both down again. Travel stocks in demand, FLT up 0.6% and CTD up 2.2%. Tech still under a little pressure with the All-Tech Index up 0.4% with WTC off 1.3%. In corporate news, MSB raised more money at 250c, CCX jumped 14.6% on a trading update. Iron ore surged back over $100 a tonne as Chinese imports reached a record. No local economic news. In Asian Markets, Japan played some catch up after a holiday yesterday and fell over 2% with both China and HK both showing plus 1% gains.

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