Market Updates

End of Day Report – Tuesday 23 April: Solid Bounce, Waiting for US Techs


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ASX 200 has risen 34 points to 7684 (+0.5%) as the market waits for US earnings. Banks leading the charge higher with the Big Bank Basket up to $202.84 (+1.3%). CBA up 1.5%, WBC up 0.9% and MQG gaining 1.2% with insurers slightly higher. REITs better with GMG up 0.8%, SCG up 1.9%. Healthcare better again, with CSL up 1.3% and RHC up 2.9%, bid rumours from WES. Industrials firmed and tech better, with the All-Tech Index up 1.2%. Some slippage in spots as TLS down 0.3%, and BXB falling 6.3% on a 3Q trading update. Resources eased with iron ore stocks holding, but gold miners fell as bullion cracked. NST down 3.5%, NEM off 4.6% and EVN off 1.5%. Lithium slid a little, PLS down 1.3%. Oil and gas holding just, WDS off 0.7%. In corporate news, SVW up 2.0% as it moved to 82.4% of BLD, LIC announced lower settlements falling 13.5%. SHV off 9.5% on wet weather and soft conditions. PLT up 4.8% on revenue numbers and WBC gained 0.9% despite a $136m charge due to reporting changes. In economic news, Australia's Services PMI dips to a 2-month low of 54.2 in April. Asian markets mixed again, Japan up 0.1%, China down 0.6% and HK up 1.5%. 10-year yield easing to 4.27%. European markets opening up around 0.5%.

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