Market Updates

Marcus Today End of Day Podcast – Tuesday 14th November


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ASX 200 rose strongly holding above 700 closing up 58 points at 7007 (+0.8%). Resources are back in fashion as FMG led the iron ore miners higher up 2.7%, with BHP and RIO also doing well. Lithium had a rare day in the green, PLS up 0.9% and MIN up 3.1%. Gold miners slightly higher, Base metals are also better, with IGO up 1.8% and SFR rallying 2.5%. Oil and gas stocks rose as crude prices bounced, WDS up 2.6% and STO up 2.5%. Coal stocks also in demand. Industrials were solid, CSL up 0.7% and FPH rallying 1.6%. Staples better, WOW up 0.4% and EDV rising 0.8%. Tech too in demand, XRO up 1.3% and WTC  up 1.7%. The All-Tech Index rallied 0.8%. Banks flat with the Big Bank Basket up to $176.02(+0.2%) as NAB went Ex Dividend. MQG better, and Insurers doing well, SUN up 3.3% and QBE up 1.8%. In corporate news, CBA results today up 1.0%, with TLS confirming guidance down  2.0% and OFX dropping 10.5% in profit numbers. ALQ up 8.5% on better-than-expected numbers despite lowering dividend and guidance. ORG eased 3.2% after AustraliaSuper upped its stake. On the economic front, consumer sentiment dropped on November rate rise. Asian markets mixed, Japan up 0.5%, China +0.1% and HK down 0.1%. 10Y yields rose to 4.66%. Dow Futures down 6 points. NASDAQ Futures up 24 points. 

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