Marcus Today End of Day Podcast – Friday 21st July

Market Updates

ASX finishes the week down 11 points at 7314 (-0.15%) for 11-point rise for the week. Narrow range again. Low volumes. Once again, some bifurcation with banks now in focus, slipping on some profit-taking. The Big Bank Basket fell to $179.59 (-0.6%) with CBA down 0.7% and ANZ off 0.8%. MQG slipping 1.4% ahead of AGM next week. Insurers better with QBE up 1.4% and SUN up 0.7%. Money managers mixed. REITs eased slightly with CHC down 0.5% and SCG off 1.1%. Industrials held up relatively well, healthcare in the green with CSL up 0.7% and RMD gaining 1.3%. TLS kicked 0.7% higher, staples better and utilities also in demand. Tech wrecked though today with the All-Tech Index under pressure down 2.1%, as WTC fell 2.4% and XRO off 3.9%. Old Skool Platforms also slid, REA down 2.6% and SEK not finding friends down 4.0%. Resources were mixed, Gold miners fell hard, NCM down 5.3% on Newmont results and NST continued to struggle down 0.8%. Base metal and lithium stocks in the doghouse, MIN hit 7.5% on broker downgrades, PLS dropped 4.5% and AKE slumped 3.3%. BHP and RIO though bucked the weakness rising 0.9% and 0.3% respectively. Oil and gas also better WDS up 1.5%. In corporate news, quiet day, ALX fell 1.0% on toll numbers, SSM up 7.3% a contract win, the Noosa Mining conference finished up and 29M slipped another 6.1% on no new apart from a update date. Nothing on the economic front today. Asian markets once again weaker, Japan down 0.1%, HK up 0.2% and China off 0.2%. 10-year yields higher again to 4.03%. Dow futures up 54 points. NASDAQ futures up 11 points.

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