Market Updates

End of Day Report – Wednesday 11 June: ASX 200 rises just 5 to new record | ZIP up 15.5%


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ASX 200 jumps to a record high before seeing profit taking creep in and close up only 5 to 8592 (0.1%). News from the UK on the trade talks were lacking in detail, US futures weaker before the CPI number tonight. Banks eased back with CBA off 0.3% and the Big Bank Basket down to $284.04 (0.2%). MQG fell 0.6% with insurers slightly weaker. REITs were firm, GMG up 0.2% and VCX up 2.4%. Industrials mixed, WES fell 0.6% with QAN falling 1.3% in news it was closing Jetstar Asia. Tech steady with REA up 0.6% and XRO falling 2.3%.  Resources were interesting again, BHP rallied 1.5% with FMG up 3.5%, gold miners fell again despite bullion rising, lithium stocks squeezed higher, PLS upgraded its MRE, up 5.6% and MIN rallying again up 3.2%. Uranium stocks fell, PDN was off 2.7% and LOT was down 8.6%. WDS and STO better, with BPT down 7.5% on a broker downgrade. In corporate news, ZIP raced 15.5% ahead on another guidance upgrade, JLG revealed a NBIO with no price tag attached. MVF bounced after the drubbing yesterday and FBU rose 10.0% on M&A talk. Nothing on the economic front. Asian markets better on trade talk, Japan up 0.4%, HK up 1.1% and China up 0.9%.10-year yields steady at 4.29%.

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