Market Updates

Marcus Today End of Day Podcast – Tuesday 22nd August


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ASX 200 rose 6 points to 7122 (0.1%) as results continue to dominate. 'Do not disappoint' is the mantra. BHP, the big one to report today, was a little underwhelming, although most was known after production numbers. The stock fell 0.7% with a slight miss to the dividend. Other miners were steady with big lithium in demand, PLS up 1.9% and AKE rallying 1.7% on results. Gold miners also in demand, NCM up 1.2% and NST up 2.4%. Oil and gas stocks eased as WDS reported, dropping 1.0% and STO down 0.5%. Coal stocks modestly better. Industrials were selective, TLS rallied 3.3% on some broker moves, tech better following Nasdaq higher with WTC and XRO both doing well, The All-Tech Index up 2.5%. Standouts were ALU up 25.9% on much better numbers and broker upgrades. MP1 was catapulted higher on better numbers, up 16.9%. Healthcare remains in the ICU, RMD down 1.6% and CSL off 1.0%. REITs better with SCG up 3.8% and VCX bouncing 3.1%. Banks better too with WBC finding some friends, up 1.3%, and NAB recovering 1.3%. Insurers weak, QBE off 1.7%.

In corporate news, HUB results cheered with the stock up 11.3%, MAD rallied 8.5%, AD8 put on another 9.3% after broker upgrades. PRN down 12.4% on results and DTL missed EPS numbers and fell 18.8% KGN also in trouble as Ruslan tried to convince investors that it wasn’t a retailer. The market seemed to concur, falling 11.2%. AWC fell 8.0% on numbers and COL fell 7.1% as costs rose and shoppers ramped up thefts. WES and WOW fell hard too.

On the economic front, ANZ-Roy Morgan consumer confidence fell 2.4%. In Asian markets, a mixed picture with Japan up 0.7% HK up 0.2% China down 0.3%. 10Y yields back up to 4.29%. Dow futures down 26 points. Nasdaq futures off 14 points.

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