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 Podcast – Tuesday 27th September
ASX 200 rebounded 27 points to 6487 (0.4%) in quiet trade. Resources were the stand outs today after the rout yesterday as BHP gained 2.8%, RIO up 3.0% and FMG better by 5.5%. Lower AUD doing its job with exporters to benefit. Gold miners missed out but lithium and coal stocks rebounding strongly, PLS up 6.1% AKE up 3.6%, WHC rallying 6.8% with other coal stocks in demand. TER up 8.5% and BCB doing well, up 7.6%. Energy stocks also doing well, STO up 1.0% and WDS bouncing 1.6%. Elsewhere banks slid as 10-year bonds cruised through 4%. The Big Bank Basket fell to $166.89 (0.2%). CBA down 0.2% and MQG falling 0.9%. Insurers steady as yields rose. Healthcare reversed yesterday’s gains, CSL falling 0.1%, RHC down 3.5% and FPH down 4.8%. REITs down and defensives giving back a little TLS down 1.1% and REA off 2.5%. Tech stocks modestly lower. The All-Tech Index unchanged.
In corporate news, POS down 8.3% on an update and CXO dropped 5.6% on a Finniss lithium project update on production later this year. SM1 fell 4.4% after underwhelming on results and TLG rallied 19.4% on an offtake agreement. Nothing on the economic front. Asian markets slightly better with European markets heading for a stronger open. Asian markets mixed. 10-year yields up to 4.06%.
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