Marcus Today End of Day Podcast – Thursday 22nd December

Marcus Today Market Updates

ASX 200 finished up 37 points to 7153 (0.5%). A thin and directionless day despite the rise. Investors are winding down. Resources mixed after the 29M production issue caused them to fall hard down 22.2% with BHP and OZL announcing the deal is done. Now to regulatory issues and timing. Lithium stocks continue to slip as brokers pile on with downgrades. Oil and gas stocks slightly firmer with WDS up 0.2%. Limited moves elsewhere. Gold miners gave back some gains with NCM off 1.1% and NST down 0.8%. Industrials firmed again with REITS doing well despite yields pushing higher again. GMG up 1.3% and SCG up 1.4%. Tech stocks better as WTC rose 1.5% and XRO up 1.6% with the All Tech Index up 1.8%. Banks slightly better as the Big Bank Basket rose to $183.70 (0.6). MQG rallied 0.5% and Fund Managers were better, MFG up 2.3% and GQG up 2.6%. Healthcare in rude health today, CSL up 1.2% and COH gaining 2.7%. In corporate news, KGN rescued a small furniture player from administration, BHP went official with OZL and 29M tried to sneak through a downgrade. Failed. MPL will return another $207m of the savings from CV19 to customers. Nothing on the economic front. Asian markets slightly higher, HK up 0.5%, China up 0.6% with Japan up 0.5%. 10 -year yields also pushing higher again. 3.78%.
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