Marcus Today End of Day Podcast – Tuesday 21st March

Marcus Today Market Updates

ASX 200 gained 57 points to 6955 (+0.8%) as the RBA meeting helped solidify earlier gains. Financial markets stabilised after recent volatility. Resources in general did well today with Gold mixed as the market consolidated gains from yesterday. NSTdown 1.5%, NCMup 0.6% andEVNup 2.1%. Iron ore stocks doing well on demand optimism. BHP up 1.3%, RIO up 1% and FMG unchanged after Andrew Forrest launched a takeover bid for MCR. Lithium stocks performing well PLS up 1.2% and LTR up 0.3%. Energy stocks winning today WDS up 0.6% and STO up 0.5% and Coal stocks rebounding from yesterday’s losses YAL up 3.7% and WHC up 3.6%, helped by favourable results from NHC, up 8.6%. Industrials held steady today WOW up 0.2%, CSL unchanged. REITs clawing back some of yesterday’s losses on hopes of stabilisation. GMG up 0.6% and CHC up 1.8%. Banks rebounded from yesterday’s sell-off, The Big Bank Basket up 0.7% to $168.7. MQG the biggest winner up 3.3% after slipping 4.6% yesterday. BOQ up 1.9% and BEN up 1.9%. Insurance sector is up with AMP gaining 5.1% with the sale to DXS finally filtering through. MCR jumping 42.3% after Wyloo Investments made a takeover bid, causing the price to skyrocket. HLO down 6% after acquiring a 34% stake in Oslo-based travel firm Australiareiser. Asian markets mixed with Hong Kong and China both up 0.2%, Japan is closed for a holiday. 10-year yields fell further to 3.21%. Dow futures up 11 points. NASDAQ futures up 15 points.
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