Marcus Today End of Day Podcast – Tuesday 10th January

Marcus Today Market Updates

ASX 200 closes down 20 points to 7131 (0.3%), its first loss in four trading sessions. Resources slid lower as Chinese authorities look to have been spooked by the big iron ore rise recently and looking to talk prices down. BHP fell 0.4%, FMG up 0.7% after a loss yesterday, lithium stocks on the nose, PLS dropped 1.5%, IGO off 1.8% and MIN down 1.3%. Rare earths also in the doghouse with ARU down 9.1% and LYC off 3.8%. Second-line lithium stocks whacked, CXO down 5.0% and LTR down 1.4%. Gold stocks fell despite a bullion rise, NCM down 2.3%, NST down 1.9% and DEG off 7.9%. Energy stocks eased as oil came off a little. Coal stocks lower too. The banks held firm but no great moves, the Big Bank Basket was mostly unchanged at $180.38. MQG down 0.3% on some EU FX issues with a $71m problem. Insurers down, QBE down 2.7% and MFG falling 1.1%. Industrials drifted lower, REITs mixed, tech dull and unexciting. CPU steadied down 0.2%. In corporate news, LKE updated the market on its Kachi project, up 1.2%, RCE jumped 4.6% after being granted an intent offer from the patent office. In economic news, Xmas consumer confidence cheer came with a 4.9-point rise last week. In Asian markets, Japan rose 0.8%, China unchanged and HK down 0.3%. 10-year yields steady at 3.72%. Dow futures down 70 points.
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