Market Updates

MT End of Day - Thursday June 16


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  •  ASX 200 gave up all its early gains to finish down 10 points to 6594 (0.2%). US futures flip flopped and jobs numbers came in better than expected below the headline making it more likely that the RBA has to go harder. The Big Bank Basket slipped again to $157.67 (). CBA down 0.2% and WBC off 1.9% with insurers off as QBE slipped 2.0% and SUN fell 1.0%. MQG held up and Buy Now Pain Later stocks rose slightly with ZIP up 1.0% and SQ2 up 1.5%. Healthcare was also under some stress with CSL dropping 0.9%, COH off 2.9% and RHC down 1.4%. Industrials were mixed with TCL down 1.6%, REITs better as GMG rose 2.4% and supermarkets COL and WOW both slipped slightly. Tech stocks going sideways with the Index unchanged, WTC rose 1.8% and XRO up 0.3%. Resources were a happy place today, BHP up 0.3% and RIO rising 0.7%, lithium back in fashion as LTR rallied 3.9% and PLS up 3.9%. Uranium back too with PDN rallying 1.6% and coal stocks bouncing back. SMR up 10.5% and CRN rising 6.1%. Oil and gas stocks better, WDS up 0.7% and BPT up 0.3%. Oil slightly higher in Asian trade. 
  • In corporate news, LNK were shaken and stirred by 10.4% as the ACCC having concerns with the Dye and Durham bid, SIQ fell 10.9% after losing a government contract in VIC, HUM rattled down 14.8% on a business update. 
  • On the economic front, more bad news on our doorsteps with house price forecasts but official jobs data still showed a booming economy and a 3.9% unemployment rate despite participation heading higher again. Mixed session in Asia with HK and China slipping. Local 10-year yields back down to 4.10% 



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Market UpdatesBy Marcus Today


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