Market Updates

• The ASX 200 finished up 9 to 7379 in a topsy turvy day. Banks once again the swing vote with the Big Bank Basket down to $175.80 (-1.3%) as CBA fell another 1.6% and NAB down 0.7%. Insurers and financials bucked the downdraft with MQG up 1.1% and IAG putting in a strong day, up 3.4%. Elsewhere industrials fared better with TLS up 2.0% TCL up 0.7% and WOW rising 1.1%. Healthcare too taking its medicine and feeling better, CSL up 1.1% and SHL rising 3.0%. 
• Tech mixed with the All Tech Index inching higher by 0.2% despite APT down 1.1%. REITs firmed led as usual by GMG up 1.8%. Miners were firm despite commodity prices with BHP up 0.2% and RIO putting on 0.7%. Gold miners were well sought as EVN bought out remaining Ernest Henry stake with brokers liking the deal and the stock up 9.7%. Energy stocks on the wane as oil prices slipped on a coordinated approach from US and China to release some of their strategic stockpiles. 
• In corporate news, ALL down 3.6% on results and the extended timeline for the popular Playtech takeover. EVN helping the sector higher on its acquisition, a few AGMs around again with AAC easing back 7.0% after comments, MNS saw some board room reshuffling after ASIC inquiries, down 5.6%. TWE doubled down on the US with its $314m acquisition of Frank Family Wines, rising 2.6%. 10-year yields slid back slightly to 1.80% .

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• ASX SPI 200 down 2. Could be more today.
• US markets slip on inflation concerns. Dow down 0.6% Nasdaq down 0.3%
• Gold up 0.9%. Oil slips. Iron ore steady.

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• The ASX 200 dropped 51points to 7370 (-0.7%) after CBA results disappointed on margins and growth. CBA fell 8.1% accounting for 46 index points of the fall. The Big Bank Basket fell sharply on the CBA September update falling to $178.11 (-5. 3%). Other financials weathered the storm well, MQG down up 0.6% and MFG ahead by 1.6%. Insurers also rallied with QBE leading the charge up 1.7%. Industrials were mixed with healthcare finding some buyers, CSL up 0.5% and RMD snoring ahead by 2.6%. REITs better with GMG up another 0.7% and TPG rose 2.2%. 
• Miners eased back as BHP lost 1.5% and FMG down 1.9%. Gold miners under pressure, NCM down 2.1% and high-flyers like CHN saw profit taking, off 4.6%. Energy stocks becalmed. In the tech space, good gains for APT  up 2.1% as it put its merger case to shareholders and WTC rose 3.0% with the All Tech Index up 1.1%. 
• In corporate news, UMG down 1.7%, full-year profit $34m vs guidance of $36.0-41m, NUF lost 8.6% after FY profits came in lower than expectations at $61.1m. UWL rose 8.3% on buy back, update and positive news flow. CCX seeing strong revenue growth up 5.6% and SEK upgraded expectation to the top of the range, falling 1.3% though. In economic news, Overall wages lifted 0.6% in the September quarter and 2.2% over the year. 10-year yields rose again to 1.84%

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• ASX 200 SPI Futures up 19
• US markets firm on economic data and Biden/Xi meeting optimism.
• USD stronger. Commodities weaker.
• Gold down 0.7%. Oil up 0.5%.
• Iron ore up 1.4%
• CBA September quarter results. Cash profit $2.2bn.

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The ASX 200 dropped 50 points to 7405 (0.7%) with selling across the board on RBA minutes and commodity weakness. Banks were soft as yields pushed a little higher. CBA down 0.3% and NAB off 0.6% with the Big Bank Basket under pressure at $188.08 down 0.3%. Other financials and resources also wavered with MQG off 0.3% and MFG falling another 3.0%. Healthcare in ICU today with RMD down 2.9% and CSL losing 0.8% and RHC off 0.6% on NHS issues with CV19 cases in UK hurting sentiment.

Industrials eased but no real damage WES fell 0.6% and ALL off 0.9% with REITS slipping slightly and Tech mixed. APT rose 1.7% following Square higher and XRO fell 0.2% and WTC off 0.4%, the All-Tech Index up 0.1%. Miners also under water led lower by BHP down 2.6% and RIO down 2.2% as iron ore slipped again in China. Gold miners came off the boil and base metal stocks like IGO and OZL slightly weaker.

In corporate news, TLS fell 1.3% after its investor day and plenty of AGMs around. CXL up 11.20% on CEO comments, IMU gained 3.5% on a clinical trial supply agreement and WPL dropped 0.8% as the CFO jumped ship to NCM. Sign of the time perhaps. The 10-year yield modestly higher at 1.82% on Governor Lowe’s comments on rate rises at a slow pace and certainly not next year.

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US markets were little changed overnight but SPI Futures are pointing to weakness for the ASX 200 on the open, down 36 points. Catch up on all the action with Henry's morning update.

• ASX SPI Futures down 36.
• US markets unchanged. Commodities slip.
• US Ten Year yields rise to 1.63%.
• RBA Minutes at 11.30am.

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• The ASX 200 pushed 27 points higher to 7470 (0.4%) on positive US leads and positive updates from ELD and IPL. Banks were mixed with the Big Bank Basket slightly higher at $188.71 as NAB went ex-dividend (8 index points) and CBA fell 0.1%. MQG rose 0.9% and other fund managers rose slightly as MFG put on 1.1%. Industrials firmed with ALL up 1.2% and TLS rising 0.8%, with REITS rallying in yields fell and TCL up 0.7%. Consumer stocks in demand with healthcare stocks also in the pink. RMD up 5.2% and FPH doing well too up 3.6%. Tech stocks mixed with APT down 0.9% and XRO up 2.5%. 
• Miners were mixed, lithium stocks still in demand, FMG higher on the hydrogen story though both BHP and RIO eased on local iron ore weakness. Gold miners were slightly higher as NCM put on 0.7% and NST 0.3% better. 
• In corporate news, ELD fell 0.7% despite positive FY21 results, IPL firmed 3.9% on its results and MSB had some good news for a change from the Phase III trials of Rexlemestrocel  cardiac treatment, up 11.8%. LTR denied it was going to tap shareholders for fund rising 4.8% and BRN fell 9.1% on a new CEO. 10-year yields fell to 1.76% down 5 bps. Short-dated yields also eased back slightly.

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• ASX SPI falls 3
• US markets higher Dow up 179 points. Nasdaq up 157. 
• Gold firm Oil slips and Iron ore down 4.5%.
• Quiet start. Ventia IPO gets repriced.

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•  The ASX 200 pushed 61 points higher to 7443 (0.8%). A solid day of gains as both banks and miners did well. Banks were pushed higher as once again bond yields rose with the short end soared with 2 years up 11bps to 0.68%. Remember the RBA official rate is 0.1% and no increase as far as the eye can see. The Big Bank Basket rose to $188.94 with NAB up 0.7% and CBA up 0.9% leading the way. MQG rallied 1.4% and insurers slightly weaker with QBE unchanged and SUN down 0.7 %. 
• Industrials were solid across the bourse, WOW up 0.7%, WES up 0.7% and TLS up 0.5%. REITS were firm and tech stocks rallied with APT up 2.0% and the All-Tech Index up 1.6%. Miners were a good place to be today, a rally in iron ore as debt holders sighed with relief as Nevergrande scrapped together around US$148m to pay the interest bill. RIO rallied 3.4% and FMG kicked again up 1.9%. Base metal stocks also did well IGO up 4.8% and lithium stocks in the green, PLS up 4.3%. Gold miners were a little underwhelming ahead of the weekend, maybe some caution still on whether it can last. NCM down 1.8% and NST off 0.2%.  Energy stocks rose as STO put on 1.6% and WPL up 1.1%.
•  In corporate news, CXL ran strongly, up 19.9%, on the back of a new patent for zero emissions technology in iron ore, BRN doing well on the Akida testing, up 23.5% and APM listed today with a slight discount of 6.2% as another billionaire minted. 

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Dow down on Disney but broader markets better. SPI Futures up 32 points. Get up to speed with Henry's Breakfast Briefing. 

• ASX SPI up 32 points.
• DOW falls 159 points as Disney drops 7% but Nasdaq and S&P up.
• Gold pushes higher again. Iron ore bounces.
• Resource stocks in focus.

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