Market Updates

End of Day – Tue 22 Feb


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  •  The ASX 200 drops 72 points to 7161 (1.0%) as Russian moves on Ukraine once again spook the market. Off lows at close. Broad base losses with only gold and oil escaping from the carnage. Results once again in focus with some good numbers from some and impressive moves higher against the trend. Banks fell hard with the Big Bank Basket down to $177.76 (1.7%). MQG slid another 1.8% with NWL off another 2.6%. 
  • Healthcare proved resilient, CSL up 1.3% and COH rallied 9.0% on its results. SHL continued to slip by another 2.1%. Industrials soggy, WES down 3.7%, TLS down 1.0% and travel stocks flopping post the reopening of tourism. QAN down 3.0%, WEB off 6.1% and FLT down 5.4%. Tech stocks were mauled, XRO down 3.1%, WTC off 4.0% and SQ2 collapsing another 4.3%. Z1P sold off heavily down 9.7% as were SZL as a capital raising looms. In the miners, Iron ore stocks fell BHP off 0.9% and FMG down 1.5%, base metals fell, and lithium depressed again, PLS down 4.8% and MIN off 3.8%. Gold was a safe haven as NCM rose 2.3% and NST up 4.6%. Oils also in demand as crude prices picked up on Ukraine issues. WPL up 3.8% and STO up 3.2%. 
  • In corporate news, COL followed the EDV results with gains today on better than expected numbers. COH rallied 9.0%, CGC did well as international business was firm rising 8.7%. HUB bucked the recent trend in platform stocks rising 4.8% on its numbers and SLC, NAN and UWL all fell hard on the numbers. On the economic front, ANZ consumer confidence slipped 1.4% as higher petrol prices took their toll. Asian markets were soggy on macro issues and a further Chinese clamp down on Tech. 10-year yields steady at 2.20% 

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Market UpdatesBy Marcus Today


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