Market Updates

End of Day – Wed 11 May


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  •  The ASX 200 fights back to a slightly positive close, up 14 points to 7065 in a very dull day for a change. It was again a tale of two cities, Banks under pressure following the NAB dividend, falling % with the Big Bank Basket down to $181.69 (1.2%). CBA down 0.2% and ANZ down 1.5%. NAB ex dividend and some, falling 3.9%. MQG bounced slightly by 1.2% as insurers came under a little pressure. QBE down 1.1%, IAG down 1.3% and SUN setting 1.1%. ASX rallied 0.8% after pushing back its CHESS pieces, healthcare sector better with CSL up another 2.1% with SHL up 1.3% and RMD rising 2.0%. REITs improved slightly GMG up 1.4%, GPT up 1.9% and CHC up 1.3%. Industrials were mixed, TLS down 0.5%, TCL up 0.1%, REA down 1.8% but mostly the sector becalmed. Resources better in places, iron ore stocks better, BHP up 1.4% and FMG rallying 2.3%, MIN also better up 2.9%. Some stability returned to the lithium sector as PLS rose 3.6%, AKE up 2.7% and LYC up 3.9%. Oil and gas stocks mixed, WPL down 0.8% and STO up %, coal eased too. Tech stocks slid slightly with XRO down % and WTC down %. The All-Tech Index fell 0.4%. 
  • In corporate news, CSR up 0.5% on its results, with trading revenue up 9%. GNC sold off 1% after numbers and LNK fell 15.1% on concerns about the bid with a ASX query revealing nothing new. Worries persist though. 
  • In economic news, consumer sentiment fell again to the lowest level since August 2020 as rates rose. Asian markets, Japan rose 0.3%, China up 2.0% and HK up 1.7%. 10-year yields fell to 3.49% 


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Market UpdatesBy Marcus Today


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