Marcus Today End of Day Podcast – Friday 2nd December

Marcus Today Market Updates

ASX 200 dropped 53 points to close at 7302 (0.7%). Up 55 points for the week. Some caution creeping in before the US jobs data tonight and it has run hard. The BIg Bank Basket fell to $186.74 (1.1%). MQG slid 1.0% and insurers also in the doghouse as bond yields continue to fall. 10-year yields now back to 3.39%. QBE down 0.2%, MPL off 1.7% and money managers down too, GQG off 3.0% with MFG falling another 1.9%. Industrials relatively firm, TLS up 0.5%, REA up 0.7% and CPU up 0.1% with healthcare also doing ok as RMD rose 1.6% and CSL up 1.1%. REITs stumbled lower despite rates easing, GMG down 4.1%, GPT off 2.2% and SCG falling 2.7%. Tech better with the All-Tech Index up 0.6% as WTC rallied 0.5% and BTH got an 80c bid. In resources, iron ore stocks eased, BHP down 1.4% energy down too WDS copping some broker negativity falling 2.6% and coal stocks not such a merry old place to be. Gold miners though enjoying a day in the sun, SBM up 10.4%, NCM up 2.1% and GOR flying another 2.2%. Base metals too in the green, IGO up %, PLS up % and CHN up 3.7% in speculation Twiggy is interested. In corporate news, WGO got another revised bid from BPT at 25c. STO had a court case go against them on Barossa gas project falling %, PMV posted record Black Friday sales higher by %. CRN warned on wet weather impacts, DMP completes its placement of $150m to buy out its German partner. In economic news, the total new loan commitments for housing fell 2.7% in October. Japan down 1.8%, China off 0.6% and HK down 0.8%. 10-year yields at 3.39%.
Why not sign up for a free trial? Get access to expert insights and research and become a better investor.