Marcus Today End of Day Podcast – Tuesday 22nd November

Marcus Today Market Updates

ASX 200 continued to push higher in quiet trade finishing up 42 points at 7181 (0.6%). Coordinated positivity in banks and resources saw the index close in on the 7200 level. The Big Bank Basket topped $187.10 (0.5) with CBA close to an all time high. NAB in favour too up 0.5% with QBE better by 2.7% on broker upgrades. MQG missed the memo down 0.9% with MFG up 0.4%. Healthcare better as CSL up 0.1% and FPH rising 2.5%. REITs did well too, GMG up 0.2%, SCG up 1.4% and VCX rising 0.8% despite recent CEO woes. Industrials firm but unspectacular. Tech stuck in the slow lane with the All Tech Index up 0.3%. Resources though were back in demand despite more CV19 cases in China. BHP rose 1.2%, RIO up 1.0% and MIN doing well up 2.8%. Lithium stocks were firm but again unspectacular, PLS up 3.4% and LTR roaring 2.5% better. Energy stocks though in demand with WDS going great guns up 2.9% and coal stocks rallying hard on higher coal prices. WHC up 7.8% and NHC up 7.3%. Gold miners uneventful. In corporate news, TNE rose 5.1% on some impressive numbers, VUK up 10.6% on results and buy back update, AXE chopping higher on qubit news, up 21.8%. BST was worse with its AGM update falling 13.6% and 360 returned from a capital raising falling close to the placement price of 630c. Nothing on the economic front, Phil Lowe speaks tonight his specialist subject. How to forecast inflation and interest rates correctly. Meanwhile Asian markets mixed on CV news, Japan up 0.7% HK down 0.4% and China up 0.8%. 10 -year yields steady at 3.60%.
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