Marcus Today End of Day Podcast – Wednesday 15th March

Market Updates

ASX 200 opened strong, waivered, then rallied to close up 60 points at 7069 (0.9%). Gains across the board with banks solid but unexciting, the Big Bank Basket up to $168.65 (0.55%), MQG rallied 0.9% with insurers back in demand as yields steadied, QBE up 2.3% and SUN rallying back 1.9%. Wealth managers too doing ok, MFG up 4.8% and PTM rising 1.8%. Healthcare was better, CSL up nearly 1.8% and gains in COH and SHL adding to the green. REITs rallied with SCG up 1.7% and SGP firing 3.2% higher. Tech better XRO up 4.0% the standout, the All Tech Index up 1.6% with CPU recovering 2.3%. Industrials firm. TLS up 0.5% and COL ahead by 0.9%. In resources, BHP up 1.2% with RIO and FMG doing well too after Chinese economic data, Lithium sticks remain mixed, early jumps saw a seller’s ambush, Gold miners eased, energy stock mixed, WDS down 1.0% and STO up 0.8%. Old king coal was a merry old soul as WHC gained 3.7%. In corporate news, 29M cratered again on the rain issue in QLD, KAR had some good news on Patola well and rose 2.5% and PRN rose 7.5% on a new safety taskforce. Nothing on the economic front locally but Chinese data mostly inline but no huge boom post Covid. Asian market slightly better. 10-year yields up to 3.44%
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