Market Updates
A twice daily podcast from the team at Marcus Today, the stock market newsletter for investors, bringing you up to speed with the latest stock market, financial, and business news. Published just before market open and after market close (AEST), Monday to Friday.
Market Updates
End of Day – Thursday 25th August
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Marcus Today
- ASX 200 up another 50 points to 7048 (0.7%) as banks and resources rally pre-Jackson Hole. Resources continue to find friends on Chinese stimulus moves. Iron ore stocks wilted from highs with BHP up 0.7%, FMG up 0.1% and RIO lagging slightly although still up 0.2%. Base metals also doing well despite nickel falling overnight, S32 good results up 1.0% and IGO up 1.8%. Lithium stocks took a slight breather, PLS down 1.7% as uranium took centre stage on Japanese moves to embrace more nuclear power. PDN rose 11.6%, BOE up 5.2% and BMN up 15.4%. Oil and gas stocks continue to find buyers as STO rose 1.3% and WDS up 2.0%. WHC results today saw early losses as buyers stepped back in and erased the fall closing only down 1.4%. Even gold miners put in a better day, NCM up 3.0% and DEG up 5.3%. Banks were better as bond yields rose, CBA up 0.6% and WBC the stars, the Big Bank Basket rose 0.7% to $172.57. IFL pushed 11.4% ahead as MLC integration looks to be working out. MQG saw a rebound too up % with insurers a little left out. Healthcare better as CSL bouncing back 0.4%. SHL up 2.2% saw upgrades from brokers, RHC up 0.8% as BlackRock becomes a substantial shareholder at 5.1%. Industrials were firm with the exception of the staples which again came under pressure as WOW fell 3.2% on results. Plenty of ex dividends today as well. Tech was firm but unremarkable with the All- Tech Index up 0.5%.
- In corporate news, Super Thursday today, QAN announced a $400m buyback and Joyce gave $50 vouchers to say sorry, up 7%. NEC streaming 9.0% higher on better numbers, IEL doing well on its pivot up 7.5% and KAR better on a full year of Bauna, up 8.4%. Nothing much on the economic front. In Asia, markets pushing higher although HK suffering from storm disruptions Japan up 0.7% China up 0.4% and HK up 1.7%. 10-year yields higher again at 3.67%.
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