Marcus Today End of Day Report Thursday 16th September

Marcus Today Market Updates

The ASX 200 closed up 43 points to 7460.
A solid day with banks powering ahead on jobs data showing the headline rate falling to 4.5% although participation the issue The Big Bank Basket rose to $184.92. MQG pushed 1.0% ahead with MFG rising 2.5% for a change. Healthcare back in the pink with CSL up 1.1% and RHC doing well.
Industrials were firm with TLS holding an investor day rising 0.5%, TCL up 1.2% and REITS pushing ahead again. GMG up 1.0%. Consumer stocks were firm, WOW up 0.6% and WES pushing 0.6% better. In resources, uranium stocks once again in focus with AGE and BOE leading the charge in smaller players as big ones took a break. Lithium stocks were a little depressed today after some spectacular gains in recent days, ORE dropped 4.1% and PLS off 4.9%.
Iron ore stocks rebounded slightly led by BHP up 1.0% as one of the few actual uranium producers in Australia. RIO on the nose, down 0.9% and FMG down 3.2% as the sell-off in ore continues. Energy stocks got a boost from crude prices, STO up 2.2%. In corporate news, WES bid 155c in cash for API and was greeted with the keys to the boardroom and MYR reported better numbers sending the stock up 16.7%. On the economic front, unemployment dropped to 4.5% as many gave up looking for work. No impact on AUD or 10-year yield at 1.25%. Australian buying US subs put French and Chinese offside. European Futures pointing to a slightly higher start.
Win up to $3000 by picking the best performing stock on the ASX. Submit your entry for the One Stock Portfolio Competition today.