Market Updates

End of Day – Thu 5 May


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  • The ASX 200 fell hard again after a rally was snuffed out early morning. The ASX 200 fell 124 points to 6941 (-1.8%) Resources tried to hold up in the big miners but threw in the towel with BHP down 1.6% and FMG down 2.8%. Gold miners fell with NCM down 0.6% despite AUD gold prices barely changing recently. Lithium stocks again in the shorters sights, PLS down 6.5% and MIN off 2.1%. Even oil and gas stocks saw selling again as WPL fell 2.1% and STO down 3.1%. Old King Coal not so merry, WHC off 2.8% and NHC down 3.3%. The tech wreck continues. CPU fell 2.0% with XRO results colouring the sector, after a fall of 11.6%. ALU tumbled 16.7%. SQ2 collapsed 17.6% as a big holder of crypto crapto. Other BNPL stocks falling away again as more regulation called for. The All-Tech Index was woeful down 6.6%. Industrials were weak, ALL down 3.9%, IEL down 9.2%, COL down 1.5% and TWE off 3.5%. REITs back on the nose., GMG down 3.0%, GPT down 4.4% and healthcare falling hard as CSL dropped 1.8%. Banks were the one oasis in the red desert with NAB and CBA gaining as cream rises to the top. CBA results cheered and drew buyers. The Big Bank Basket up to $181.92.
  •  In corporate news, good results from ORI with the stock exploding 4.7% higher. RED up 5.8% on news of production from KOTH. CSL fell % on news that the Vifor deal may take longer. On the economic front, building approvals approved fell 18.5%. 
  • Asian markets fell slightly. 10-year yields down a little.

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Market UpdatesBy Marcus Today


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