End of Day – Wed 13 Oct

Marcus Today Market Updates

• The ASX 200 meanders around closing down 8points at 7273 (0.1%) as banks slip slightly and miners under some pressure.
• The Big Bank Basket took its cue from BOQ which fell 4.3% on its results, CBA held its AGM and talked up tough love on lending, falling 1.6% in the process. The Basket fell to $184.94 down 1%. Insurers firmed, MQG unchanged, MFG continued its descent into darkness, down another 1.8%. Industrials were mixed, tech better led by APT up 0.8% on Square dances in the US.
• The All-Tech Index was up 0.8% with XRO doing well. Resource stocks were mixed, uranium and lithium players were highly sought after with PDN up 18.4 % and CXO doing well up 13.1%. Gold miners had their moments, PDI recovered from the crash yesterday up 14.7%, NCM firmed 0.9% and DEG had some good drill results though rise petered out at close. Iron ore a little on the nose and coal off, BHP down 1.0% and FMG seeing traders take profits, down 5.3%. Oil and gas better with COE up 1.8% and WPL up 0.6%. Healthcare did ok, CSL the standout up 0.5%.
• In corporate news, SGR rose 6.5% after some more IR spin on money laundering issues, ADT in a trading halt, raising a truck load of money and SFR selling out completely. In economic news, IMF downgraded Australian GDP and Treasurer Frydenberg followed suit.
  

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