End of Day – Tue 19 Jul

Marcus Today Market Updates

• ASX 200 fell 38 points to 6650 (-0.6%). Asian markets all weaker and RBA minutes kicked in at 11.30am to help us down a little. Volumes remain modest. Resources turned turtle with iron ore miners mixed on BHP production report, down 1.0%. FMG up 0.7% whilst base metals stocks slipped quietly away, IGO down 1.4%, S32 off 2.3% and LYC down 1.6%. Lithium stocks a little depressed, AKE off 3.3% and PLS down 3.3%. Gold miners going nowhere but energy stocks full of beans, WDS up 3.6%, STO up 1.1% and WHC up 5.3%, Banks were firm on higher bond yields around 3.49% post-RBA, the Big Bank Basket up to $166.66 (0.2%). ANZ still suspended but CBA better by 0.8%. MQG slid 3.3% and insurers under pressure again despite higher bond yields. Healthcare in ICU today, CSL falling 2.0%, RMD down 4.6% and SHL sliding 3.7%. Industrials weak, WOW and COL off with GMG leading REITs lower with the GMG at 2.6%. Tech eased as XRO cratered 6.0%, WTC saw profit taking down 4.9% and the All Tech Index down 2.2%.
• In corporate news, PDL looks like it will be knocked off with another share bid from PTM. JBH pushed 2.2% higher despite record results. HUB fell 5.0% on a market update. In economic news, ANZ consumer confidence showed a slight kick higher the RBA minutes curbed enthusiasm. Asian markets weaker with 10-year yields rising to 3.51%.

Why not sign up for a free trial? Get access to expert insights and research and become a better investor.