Market Updates

End of Day – Thu 14 Apr


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  • The ASX 200 finished the shortened week up 44 points to 7523 (0.6%). Positive leads and a solid resource sector helped the index close up 45 points for the week. Resources powered ahead, BHP up 1.4%, FMG up 1.3% and gold miners doing well too, NCM up 1.8% and NST up 4.2%. RED continued its charge up 7.2%. Uranium stocks in demand today again, PDN up 6.0% and BOE enjoying its honeymoon up 6.1%. Lithium stocks consolidated recent gains, AKE up 2.0% after a positive outlook statement and a ramp up in production. Energy stocks better on oil price rise, STO up 1.1% and WPL rallying 1.1% as it seeks secondary listings in London and NY. Industrials showed modest gain. Travel stocks rally on Delta results in US. QAN up 7.1%, FLT up 5.0% and WEB up 7.5%. Healthcare was better as US truck issues being sorted, CSL up 0.8% and FPH up 1.0%. Tech better with CPU up 1.1% and XRO up 2.0%. The index rose 1.1%. In the banking sector a combo of JP Morgan results and falling bond yields together with disappointing BOQ results clobbered the big four. BOQ dropped 6.3% whilst the Big Bank Basket slipped to $190.88 (0.3%). NAB a big faller down 0.7%. Insurers sold and other financials mixed. 
  • In corporate news, UWL agreed to its 500c bid from Morrisons. Unemployment numbers came in as expected with the headline at 4.0%. Albo memorising the numbers over Easter. In Asian trade, Japan up 1.2%, China up 0.9% and HK up 0.5%. 10-year yields back below 3%.

Happy Easter. Drive safe. Double demerit points.

 


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Market UpdatesBy Marcus Today


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