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End of Day – Wednesday 29 Sep
- The ASX 200 fell hard again today though rallying into the match out falling 79 to 7197 (1.1%) with the banks seeing declines on news that authorities may clamp down on risky lending practices. So glad we had that RC. The Big Bank Basket fell to $182.42 (1%) with CBA off 1.3% and MQG falling 1.7%. MFG continued to fall down 2.2% and PNI also in the sellers’ sights today down 9.1%.
- Big iron ore miners fell again too, BHP off 1.3%, BSL off 3.9% and RIO down 0.6% but FMG spared somewhat.
- Industrials slipped CSL continue to weigh down another 2.6% with TLS down 0.8% and tech off led by APT down 4.2% and XRO down 1.8%. The All-Tech Index dropped 1.9%. Energy stocks saw some profit taking as crude prices drifted back, STO down 1.3% and WPL off 2.2%. Travel stocks feeling a little unloved as Vic case number surpass NSW numbers. QAN down 3.5% and WEB off 1.9%.
- In corporate news, APA extended the bid for AST until the takeover panel can rule on exclusivity whilst SIQ attracted a private equity bid at 1035c from TPG. Nothing on the economic front today but some signs in Asia that Evergrande may be restructured rather than bailed out. The stock rose around 9% in Asian trade.
- 10-year yields rising again to 1.49%.
- Fumio Kishida wins PM vote in Japan.
Win up to $3000 by picking the best performing stock on the ASX. Submit your entry for the One Stock Portfolio Competition today.
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By Marcus Today- The ASX 200 fell hard again today though rallying into the match out falling 79 to 7197 (1.1%) with the banks seeing declines on news that authorities may clamp down on risky lending practices. So glad we had that RC. The Big Bank Basket fell to $182.42 (1%) with CBA off 1.3% and MQG falling 1.7%. MFG continued to fall down 2.2% and PNI also in the sellers’ sights today down 9.1%.
- Big iron ore miners fell again too, BHP off 1.3%, BSL off 3.9% and RIO down 0.6% but FMG spared somewhat.
- Industrials slipped CSL continue to weigh down another 2.6% with TLS down 0.8% and tech off led by APT down 4.2% and XRO down 1.8%. The All-Tech Index dropped 1.9%. Energy stocks saw some profit taking as crude prices drifted back, STO down 1.3% and WPL off 2.2%. Travel stocks feeling a little unloved as Vic case number surpass NSW numbers. QAN down 3.5% and WEB off 1.9%.
- In corporate news, APA extended the bid for AST until the takeover panel can rule on exclusivity whilst SIQ attracted a private equity bid at 1035c from TPG. Nothing on the economic front today but some signs in Asia that Evergrande may be restructured rather than bailed out. The stock rose around 9% in Asian trade.
- 10-year yields rising again to 1.49%.
- Fumio Kishida wins PM vote in Japan.
Win up to $3000 by picking the best performing stock on the ASX. Submit your entry for the One Stock Portfolio Competition today.
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