Marcus Today End of Day Podcast – Monday 7th November

Marcus Today Market Updates

ASX 200 closed up 41 points at 6934 (+0.6%) in a quiet day as banks fell and resources rose. A solid day for resources which despite no easing in China, managed to do well. Asian markets better too helping. BHP up 5.0%, RIO up 3.8% and FMG rallying 4.9%. Gold miners were back in fashion despite no movement at all in AUD bullion pricing. NCM up 4.2% and NST rising 6.1% with second liners doing well, DEG up 6.2% and RMS ahead by 6.6%. Lithium stocks were modestly higher with LYC doing well up 3.0% and IGO up 2.2%. Energy stocks mixed as WDS gained 2.6% and STO flat. Coal stocks a little flat after CRN fell 7.1% on no merger with Peabody announcement. Banks were the weak spot today, ANZ and MQG ex dividend didn’t help but WBC underdelivered falling 3.9%. The Big Bank Basket falling to $182.33 (-2.1%). Insurers held up, MPL rose 0.4% after saying it would not pay a ransom. Healthcare was mixes, CSL better but RMD dropping 3.3%. Industrials flat, tech eased as CPU fell 0.7%, WTC down 5.8% and XRO dropping 2.1%. REITs slightly better.
In corporate news, WBC results today, ARU rose 13.1% on a binding offtake agreement, IMU fell 2.5% in a European patent being granted and ECX fell 5.9% on results and a new CEO.
Nothing on the economic front as COP 27 kicks off in Egypt. In Asia, Japan up 1.1%, China up 0.3% and HK charging ahead by 3.1%.
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