End of Day – Thursday 11th August

Marcus Today Market Updates

• ASX 200 rallies 78 points to 7057 (1.1%) on positive US leads and CPI number. Risk on, as the shorts are being punished across the board still. Resources leading the charge higher, BHP up 2.2% with FMG up 1.3% and RIO down 3.9% but ex div. Base metals and lithium back in demand. PLS up 4.4%, S32 up 4.1% and OZL rising 1.0%. Gold miners missing out a little as the stronger AUD hinders. NCM down 0.7% though NST up 1.8%. Oil and gas mixed with WDS off 0.6% and STO up 2.3% with coal stocks slightly firmer, WHC up 1.4% and NHC up 1.7%. Banks did well with the Big Bank Basket up to $177.76 (0.5%). CBA the only faller as brokers were ‘ho hum’ on numbers yesterday. NAB recovering 1.0% with insurers better after the QBE results pleased the market. The sector better as QBE rose 3.3% and SUN up 1.2%. AMP reported but failed to inspire, down 0.9%. MFG had a solid day, up 3.5% and GQG rose 4.9% on FUM and results. Healthcare better on sentiment shift, CSL up 0.9% and RMD doing better up 1.4%. Industrials firm with WES up 2.2%, ALL rising 2.9% and ‘old skool platform’ stocks rising, REA up 4.6% and SEK up %. Staples and defensives underwhelming. Tech doing well despite CPU down 5.1%, XRO up 5.4% and 360 firing ahead by 13.3%. The All Tech Index up 2.3%.
• In corporate news, TLS fell 1.3% after seemingly good results and the first dividend increase in years. QBE rallied on a positive surprise up 3.3%, STO better by 2.3% on the Hunter pipeline acquisition.
• In economic news, consumer inflation expectations have moderated a little. In Asian markets Japan is closed for Mountain Lion day, China is up 1.5% and HK up 1.8%. 10 -year yields pushed a little higher to 3.28%.

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