Marcus Today End of Day Podcast – Tuesday 7th February

Marcus Today Market Updates

ASX 200 fell 35 points to 7504 (0.46%) after the RBA raised rates 25bps as expected though perhaps a more hawkish tilt than some had hoped for. Losses across the board accelerated, Banks sagged, CBA off 0.4% NAB down 0.5% and the Big Bank Basket down to $191.42 (0.3%). MQG edged 0.7% higher following a 9-month update, insurers better on the rate rise, QBE up 0.2% and SUN rising 0.9%. Industrials flopped around with the REITs down and dirty, GMG falling 2.3%, SCG off 1.0% and staples also slipping lower, COL down 0.9% and WOW off 1.2%. Tech under a little pressure but held up well all things considered. WTC down only 1.8% and CPU off 0.5%. The All-Tech Index fell 0.2%. Healthcare in casualty. RMD falling another 1.1%, CSL seeing profit taking down 1.2% and SHL sliding 3.3% on broker commentary. In resources, another sorry day as some lithium players fell again, BHP off 0.4% and RIO down 0.9%. FMG bucked the trend rising 0.4% and gold miners steadied with NCM up 1.7% and EVN rising 0.6%. Energy stocks firmed, WDS up 0.3%, and coal stocks doing very well, WHC up 1.9% and NHC rising 3.7%. In corporate news, NXL rose 43.7% on a court win, TCL slipped 0.6% lower on results and CEO retirement, MQG showing class again with positive results boost. In economic news, the RBA decision dominated all, trade surplus numbers too with a $12,237m surplus. Asian trade mixed with Japan flat and China and HK both better.
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