End of Day – Thursday 4th August

Marcus Today Market Updates

ASX 200 closed down 1 point at 6975 well off intra day highs as enthusiasm wanes and iron ore stocks sagged. BHP down 1.1%, FMG down 2.0% and RIO off 1.6%. Base metals were slightly weaker but hardly registering on the same level, lithium stocks a little mixed, PLS down 1.1% LTR up 3.7% and AKE up 1.4%. Gold miners eased back slightly with NCM off 1.0%, DEG down 2.6% and NST falling 0.1%. Oil and gas down hard as crude sank, STO down 1.3% and WDS off 3.1%. Banks were a beacon of green light today with the Big Bank Basket up to $177.33 (0.9%). CBA the biggest and the brightest with a 1.3% gain. Other financials caught in a trap, can’t get out, MQG eased 0.3%. Insurers mixed. Healthcare slightly lower as CSL slipped 0.7%, FPH fell 2.5% and industrials flat. COL down 0.6%, EDV off 2.5% and WOW falling 1.1%. Telcos rose as TLS rallied 1.3% and tech stocks better with XRO up 0.7% and WTC up 0.9%, the All-Tech Index up 2.2%.
In corporate news, ORI returned from its outsized cap raise and fell 9.3%, NWH rose 10.9% on its results update. On the economic front the BoP came in better than expected. Asian market slightly firmer despite fly-bys in Taiwan. 10 year yields up to 3.12%
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