Market Updates

End of Day – Thu 14 Jul


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  •  ASX 200 rallied 29 points to 6651 (0.4%) despite US CPI and a strong jobs number locally. Resources firm., Banks weak ahead of US reports tonight. The Big Bank Basket fell to $163.39 (1.3%).  CBA off 1.5%, MQG falling 0.2% and insurers under pressure, SUN down 0.2% and QBE unchanged Industrials firm with CSL up 0.8%, RHC up 1.1% in the healthcare space, TLS rallied 0.8% on its acquisition finalised. ‘Old Skool’ platform stocks better, SEK up 2.7%, REA up 2.1% and CAR doing well up 1.4%. Tech stocks better too, WTC up 2.5% and XRO going to hero up 2.0%, maybe some valuation upgrades given ANZ moves on MYOB. All Tech Index up 2.2%. Resources were better led by coal stocks, WHC up 6.5%, TER up 9.6% and SMR up 4.3% as coal prices remain elevated. Rumours that China will abandon its coal ban. BHP and FMG doing well as iron ore rise, Base metal stocks also in demand, IGO up 2.4%, MIN up 5.7% and IGO doing well up 2.4%. Lithium stocks marched ahead, PLS up 3.8% on a positive BMX result, AKE up 2.7% and oil and gas stocks better with WDS up 1.6% and STO rallying 1.5%. 
  • In corporate news, DTL rose 9.9% on a positive upgrade, CHN up 8.4% on director buying, LKE returns and falls 10.4% on short seller attack. 
  • In economic news, jobs data showed a remarkably strong economy with 3.5% unemployment. Lowest in 41 years. Asian markets, generally better, with Japan up 0.7%, China up 0.3% and HK down 0.2% 

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Market UpdatesBy Marcus Today


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