End of Day Report – Monday 28 October: ASX 200 up 10 | WTC and MIN slightly better

Market Updates

ASX 200 closes up 10 points at 8222 as caution creeps in. Quarterlies causing some serious volatility but banks under a little pressure with the Big Bank Basket down to $245.14 and CBA off 0.8%. ANZ eased after some accounting changes, other financials also slipped slightly. ASX down 0.4% after its AGM, insurers slightly higher, SUN up 0.9%. REITS slid, GMG off 0.6% and SGP down 0.4%. Industrials a mixed bag of lollies. Tech better led by WTC up 0.9% and XRO up 2.5% with COL and WOW easier. TLS flat with CSL off 0.6%. Resources were slightly firmer. MIN finding some support after an update on the inquiry now due a week away. BHP, RIO and FMG rallied on iron ore prices bouncing in Singapore. PLS up 3.3% with LYC also doing ok. Gold miners were a sitting target for profit takers, NST fell 5.5%, EVN down 1.9% and NEM bouncing back slightly, up 2.6%. Uranium stocks saw short sellers resume, PDN were ditched post the quarterly and a Fission update, off 15.3%. BOE and DYL followed suit, coal better but oil and gas stocks eased after oil fell 4% on muted Israelis response. In corporate news, TPW fell 0.8% on slowing retail spending, MTS down 2.5% after extending a supply contract in QLD. Nothing significant locally on the economic front. Asian markets mixed again, Japan rose % on election result, China and HK down around 0.2%. 10-year yields higher at 4.48%.
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