Marcus Today End of Day Podcast – Wednesday 21st December

Marcus Today Market Updates

ASX 200 closed up 91 points at 7115 (1.3%) reversing the 110-point BoJ inspired loss of yesterday. Gains across the board although the banks were slightly muted but then they didn’t fall yesterday. CBA slid 0.6% and the Big Bank Basket square again. Insurers rose on higher bond yields. REITs too rose bouncing back on the same bond yields. QBE up 1.5% and SUN up 2.1% with GMG bouncing 2.3% and MGR up 2.4%. Healthcare bounced somewhat anaemically, CSL mustering a 0.5% rise. Industrials slightly higher but no great oomph! TCL up 0.4%, REA bounced 2.0% and DHG under pressure again down 1.2%. The action was in the resources as BHP rose 2.4%, RIO up 1.7% and FMG rallying 3.0%. Lithium stocks were mixed despite 30% higher prices from PLS but cost overruns for expansion hampered sentiment. Gold miners were the stand outs as bullion ran again, NST up 4.0%, SBM up 8.0% and NCM up 6.5%. Screaming ahead, maybe more USD weakness ahead. Energy stocks also back in favour, WDS up 2.7%, KAR up 4.2% and STO doing well. Coal stocks were a merry old soul, WHC up 4.5%. Tech better but not shooting the lights out. In corporate news, ORG up 6.6% as DD on track. TLS and TPG got knocked back on the network sharing agreement. On the economic front, ANZ Roy Morgan consumer sentiment still weighing and daily home value index shows some mixed results. In Asian markets, HK flat, China up 0.1% with Japan down 0.6%. 10-year yields up to 3.74%. No one seems to care today though.
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