Market Updates

Marcus Today End of Day Podcast – Tuesday 5th December


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ASX 200 fell 63 points to close at 7062 (0.9%) on weaker international leads and falling commodity prices. RBA left rates unchanged again, but limited ASX reaction.  Resources hit hard with iron ore miners under pressure, BHP down 1.3% and FMG off 0.9%, Lithium stocks remain depressed with IGO falling 6.7%, PLS down 8.5% and MIN copping a 4.3% fall. Gold miners retreated from the heady times of yesterday with NST down 4.0% and NEM slipping 2.7%.  EVN raising $525m for an acquisition. Oil and gas stocks also fell hard as crude failed to launch, WDS down 2.7%, STO off 0.9% and coal stocks also down. Industrials held up in places, WOW and COL showed modest gains, WES fell only 0.6% despite its lithium exposure, tech saw profit taking, WTC down 1.0% and XRO off 1.0% with the All-Tech Index down 0.8%. Healthcare better with RMD up 1.8% as the recovery continues. Banks eased back slightly with the Big Bank Basket down to $179.29c. MQG fell 0.7% and insurers eased back again. In corporate news, ORG returned after the cunning Plan A was rejected by Aussie Super and rallied 2.2%, CMM dropped 8.4% on some director selling, same with 360 falling % and MSB returned from its 150th capital raise and dropped 18.0%. MPL up 0.3% on an agreement to increase stake in My Health. On the economic front, the much-anticipated Xmas present from Michele was delivered with a pause in rate rise. Not much movement on this AUD slid around 0.5% and 10-year yields at 4.41%. Asian markets weaker with Japan down 1.1%, China off 0.8% and HK down 1.8%.

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Market UpdatesBy Marcus Today


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