Marcus Today End of Day Podcast – Thursday 16th February

Marcus Today Market Updates

ASX 200 rallied back 58 points to 7409 (0.8%) after the drubbing yesterday. Bank steadied on NAB Q1 results, with NAB up 0.7% and ANZ up 0.6%. CBA copped some downgrades falling another 1.5% with the Big Bank Basket falling to $179.69 (0.750. MQG ran 1.7% with MFG also doing well on results up 6.4%, Insurers better too, QBE up 1.0% and SUN rallying 1.6%. Industrials were firm, WES kicked hard up 4.0%, Staples better, WOW up 1.4% and COL up 1.0%. TLS firmed up 1.9% on mobile dominance and dividend rise. Platform stocks in demand, REA up 4.9% and CAR better by 2.2%. Tech doing well with WTC up 3.2% and XRO up 4.1%. The All-Tech Index up 2.8%. REITs better led by GMG up 2.1%. Builders are back as JHX rose 4.8% and BLD up 2.9%. In the resource space somewhat more muted with BHP up 0.4% and RIO better, FMG outperforming up 1.5%. Gold miners hit another air pocket dropping hard. NCM knocked back Newmont falling 1.7% and results not helping, NST off 3.0% and EVN falling 2.0% on its results. Second tier lithium bounced a little and oil and gas slipped despite crude gains in Asia. Coal stocks mixed, WHC reported with a disappointing dividend, falling 2.8%. In corporate news, Super Thursday came and went. AMP back to SOP with its first dividend in five years but core business remains challenged falling 13.4%. MFG roused the animal spirits and rose 6.4% on its numbers. TLS raised the dividend under the new CEO, Vicki Brady. BAP bounced 5.2% on DIY car repair surge, PRN fell 9.5% on a Dugald mine incident update. SHL went supersonic rising 14.3% on its results, ORA jumped 14.8% on numbers. On the economic front, unemployment rose to 3.7% as signs emerge that Phil Lowe’s cunning strategy is working. In Asia, markets pushed higher with Japan up 0.6%, HK up 2.3% and China rallying 0.8% as ‘balloongate’ tensions ease. 10-year yields steady at 3.76%. Dow futures up 19 points and Nasdaq futures up 48 points.
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