Market Updates

End of Day Report – Tuesday 29 April: ASX 200 hits 2-month high | WDS better on giant US project


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The ASX 200 closed up 74 to 8071 in another strong day pushing to a two-month high. Up 0.9%. All sectors firing, the banks did well with NAB up % and WBC up % as the Big Bank Basket crept to $261.14 (0.4%). Financials also in demand, PNI up 2.3% PPT up 3.1% and MQG up 0.8%. AMP continues to push higher, up another 3.6%. Insurers and REITS firmed, GMG up 1.6% and SCG rising 0.9% with SUN better by 0.7%. Industrials better across the board, BXB bounced back 1.5% with CPU up 1.9% and ORG rising 3.2%. Retail stocks also in demand again, JBH up % and TPW rising %. Travel stocks also better, CTD up 4.3% leading the pack. Healthcare pushed back up too, PME up 2.7% and TLX recovering a little. In resources, iron ore miners gained with FMG quarterly and a broker upgrade helping it rise 5.8% with S32 up 2.6%. The gold sector recovered some of its recent losses with GMD up 5.1% and BGL rising 4.0%. NST quarterly disappointed on production guidance and fell 4.7%. Heavily shorted resource company also squeezed a lot higher, MIN up 13.2% after its quarterly, uranium stocks continue to power ahead, PDN up 8.5% with BOE up 14.3%. Lithium plays also in demand, LTR up 5.6%.  WDS rallied 1.5% on its big US LNG project FID. In corporate news, EDV got a new CEO, WHC rose on quarterly production report, AIA fell as it announced it would delay a second runway. Nothing on the economic front. Asian market better, Japan up 0.4%, China down 0.1% and HK up 0.1%. 10-year yields 4.19%.

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