Marcus Today End of Day Podcast – Monday 9th January

Marcus Today Market Updates

ASX 200 started the week up 42 points to 7154 (0.6%). A solid start but off the intraday highs. Banks somewhat lacklustre with the Big Bank Basket up to $180.41 (0.2). Mixed across the financials, AMP slipped 4.2% on a Collinmate update, GQG rose 5.7% on FUM and insurers slid on IAG update. Industrials firmed with TCL up 1.1%, QAN up 1.9% and REITs better with GMG up 1.4%. Tech a little mixed, CPU sold off hard down 5.5% as brokers turn bearish, WTC up 1.3% and the All-Tech Index slightly higher. In resources, gold miners shone, NCM up 2.8%, NST up 1.7% and EVN pushing another 2.2% ahead. Lithium shares were mildly positive, PLS floundered a little, off 0.8%, CHN rose 1.5% and S32 up 3.8%. Iron ore miners mixed, BHP up 1.0% but FMG down 0.8%. Energy shares better, WDS up 1.2% and STO up 1.3%. Coal stocks mildly positive. In corporate news, FMG CFO resigns, IGO -Tianqi bids for ESS at 50c. IMU up 6.3% on ethics approval for Vaxinia trials. Stellantis has bought into E25 with the stock rallying 14.6%. On the economic front, building approvals fell more than expected. Asian markets slightly higher with Japan closed for a holiday. HK opens its border to China for the first time in three years.
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