Marcus Today End of Day Podcast – Monday 27th March

Market Updates

ASX 200 drifted lower during the session off highs closing up 7 points at 6962 (+0.1%). Banks turned down slightly after a early positive start. CBA down 0.8% and ANZ off 0.4% with the Big Bank Basket at $166.15 (-0.4%). MQG off 1.5% slipping further down although insurers better, QBE up 0.9% and MPL up 1.6% as LFS seems to have taken the pressure and focus off their cyberattack. Money managers slightly firmer, MFG up 2.1%. Industrials better mostly, TLS up 1.0% and EDV up 2.8% on NSW election results and pokie reforms, with ORG doing well ahead of possible M&A news later this week, up 2.3%. Healthcare better led by COH up 1.9% and RMD gaining 1.7%. REITs in demand as yields fall, GMG up 2.1% and DXS up 0.4%. Tech slightly better as CPU rise 1.1% and the index up 0.4%. Resources were a mixed bag as disappointing Chinese data drew sellers. BHP down 0.2% and RIO off 0.6% with the lithium stocks once again under pressure. PLS down 3.4% and LKE tumbling 13.5% as the Chairman sold shares last week. Gold miners mostly better but unremarkable, NCM up 1.0% and NST up 2.6%. Energy stocks hit hard as WDS fell 3.4% and STO down 1.6% with WHC off 1.5%. On the corporate front, ALD fell 1.2% as it outlined outages at Lytton, IPD soared 111.86% on some good news and IVC officially rejected the TPG bid. KCN in a trading halt, raising $46m and CHN in a halt pending a resource upgrade. UMG in a halt too as it looks like it has drawn the attention of a suitor. PMV results today and paying a special dividend, down 2.5%. Nothing on the economic front, Asian markets eased. 10-year yields down again to 3.20%. Dow futures up 142 points. NASDAQ futures up 51 points.
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