End of Day - Friday 12th August

Marcus Today Market Updates

• ASX 200 fell 38 points to 7033 (0.5%) as market gave up most of the gains this week. Late rally helped somewhat. Resources slid as the AUD strengthened above 71c and 10-year yields soared to 3.40%. BHP fell 0.8%, BSL off 1.6% and FMG fell 0.7%. Base metals eased and lithium mixed after a good week. PLS up 0.3% and AKE down 0.4%. LTR fell 5.6% with SYA under pressure, down 3.5%. Oil and gas stocks moved higher on oil prices, WDS up 3.7% and STO doing well up 0.8%, coal was a merry old soul as SMR delivered with results and rose 10.9%. Gold miners eased back on the stronger dollar hitting bullion prices. Banks were mixed with CBA suffering downgrades and down 0.5%, NAB up 0.8% and the Big Bank Basket relatively unchanged. MQG dropped 0.5%, insurers fell too with QBE down 2.4% and SUN falling 3.9%. Healthcare dived, CSL off 0.8%, RMD down 3.1% and SHL off 3.3%.
• Industrials were weaker with REITs under pressure, GMG fell 2.8%. WES down 1.7% and consumer stocks generally eased, ALL off 0.7% with tech falling as Nasdaq dropped last night. WTC down 2.5%, XRO off 2.4% and the All-Tech Index off 1.6% with CPU rallying slightly.
• In corporate news, IAG reported and rose 1.1%. RMD tanked 3.1% on its results and BBN got wind and fell 4.9% on supply chain issues.
• Nothing on the economic front. Asian markets generally better, Japan back on stream after another holiday and up 2.4%. China down 0.1% and HK up 0.5%. 10-year yields at 3.40%. Bit of a worry.

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