Market Updates

Marcus Today End of Day Podcast – Wednesday 24th January


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 The ASX 200 has finished near flat, remaining close to unchanged since midday. Individual stocks had a different story with plenty of volatility around during confessions and results season. NAN was the worst performer in the All Ords, falling 33.4% as revenue dropped and costs rose. KGN was one of the standout performers, rising 14.9% on a profit upgrade thanks to improved margins and selling inventory. Lithium saw some buyers thanks to PLS reporting well and news of a bullish outlook from the AFIC fund manager. PLS rose 6%, LTR gained 3.3% and SYA up 12.5%. Rare earth miners also saw strong buying along with Aluminium on commodity price rises. LYC up 4.5%, ILU up 8.5% and AWC up 3.3%. Big miners and Gold stocks performed well, offsetting losses in the big banks on more news of Chinese government intervention in the stock market. Doubtful how sustainable this may be. BHP and FMG both rose over 1%. NST and GOR up 6% and 3.6%. The big bank basket fell 0.6% to $196.70. Tech uninspiring despite a positive NASDAQ lead. WTC down 2% and XRO down 0.9%. ZIP was up almost 13% at midday before giving up gains to finished up 1.4%. Healthcare and consumer discretionary stocks saw profit taking after a strong run. Dow Futures flat and NASDAQ futures up 0.4%.

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Market UpdatesBy Marcus Today


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