End of Day – Mon 20 June

Marcus Today Market Updates

• ASX 200 fell 41 points to 6433 (0.6%) as resources saw a big sell off. Iron ore prices in China fell heavily leaving BHP down 5.3%, RIO off 5.1% and FMG falling 8.6%. Gold miners too joined in with NCM falling 4.6%, NST down 6.1% and EVN off 6.2%. Base metal and lithium stocks eased, PLS down 2.9%, LTR down 1.9% and IGO off 2.6%. Oil and gas stocks under heavy pressure, STO down 6.0%, WDS unwinding 4.9% and coal stocks not so merry, SMR fell 9.6% and WHC off 9.2%. Industrials were better, healthcare rallying across the board, CSL up 2.8%, RHC up 0.9% and RMD rallying 1.7%. REITs rallied as 10-year yields fell back to earth with a thud, GMG up 3.4% and GPT up 4.2%. Consumer stocks also doing well, WES rallying 3.0%, ALL up 2.2% and TCL up 2.2% on its distribution announcement. Tech stocks better, XRO up 3.0% and WTC up 0.8% with the All-Tech Index up 0.7%. Banks were a stalwart with the Big Bank Basket up to $154.19 (0.4%). ANZ the standout up 1.1%. Insurers better, QBE up 0.2%, IAG up 1.7% and ASX up 0.4%.
• In corporate news, PBH rallied hard in news of a new strategic shareholder in SIG up 18.6%. IFM got another bid up 7.4%, VCX reaffirmed guidance rising 6.3% and LKE fell 13.7% unwinding last week’s rally on a new Executive Chair. Nothing on the economic front, Asian markets flat with Japan down 1.1%. 10-year yields fell to 4.05%

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