End of Day – Fri 10 June

Marcus Today Market Updates

• ASX 200 finished near lows down 84 points at 6936 (1.3%). Plenty of nerves pre the CPI tonight as banks tried to rally before being ambushed again. The Big Bank Basket fell to $165.76 (1.2) with CBA off 1.2% and MQG dropping 3.5%. Insurers also easier despite yields rising on bonds. QBE down 2.0% and IAG off 2.6%. Fund managers fell again, GQG down 1.2% and MFG down 4.2%. Industrials continued to slip slide away, WES under more pressure down 2.5%, GMG off 2.8% and TLS falling 1.6%. Small losses across others with CAR and SEK steady. Healthcare mixed as CSL flat, but the rest of the sector weakened, SHL down 1.3%.Tech stocks mixed with XRO rising 4.0% but others falling away, SQ2 down 5.7%, WTC down 1.5% and the All-Tech Index down 0.9%. In resources, it was bad but a rally into the close helped as RIO dropped 1.3% on lower commodity prices, FMG down 0.5% and BHP flat. Lithium and base metal stocks under pressure again, off lows at the close though PLS down 1.8%, MIN down 1.9% and IGO falling 2.4%. S32 a casualty too falling 4.2%. Oil and gas stocks eased as WDS fell 1.6%, STO down 1.5% and SOL off 1.6%, WHC down 1.3%. Gold miners fell led by NCM and NST with EVN down 2.2%.
• In corporate news, BUB announced a new USA distribution deal rising 9.2%, TER rose 1.9% on a business update, HLS up 2.1% on a new substantial shareholder in John Wylie and BRG reaffirmed guidance rising 1.0%. In economic news, we had business turnover numbers from ABS and CPI from China showing the effects of lockdowns. Asian markets mixed again, Japan off 1.4%, China up 0.4% and HK down 0.3%.10-year yields 3.65%

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