Marcus Today End of Day Podcast – Thursday 24th November

ASX 200 traded quietly in a very narrow range closing up only 10 points to 7242 (0.1%). Banks were a little on the nose today with the Big Bank Basket easing to $187.76 (0.3%) Other financials also eased back with MQG down 0.4% with insurers flat lining. Healthcare was firmer with CSL up 0.4 % after its new $3.5m drug brought upgrades from brokers. The rest of the sector was flat. Industrials mainly flat with squirts of green own TCL up 0.4% KGN up 7.9% and REA doing ok, up 2.9%. REITs also better as bond yields fell slightly. Resources were once again the driving force with BHP up 1.4% and FMG up 0.5% with base metals and lithium stocks a little flat but gold miners enjoying a good run despite AUD bullion going no where. Oil and gas stocks under pressure on crude falls. WDS down 1.4% and STO falling 1.6%. Coal stocks sold off today not helped by WHC falling 6.7% on CEO selling down his holdings for tax issues. In corporate news, KGN AGM today saw gains though HVN eased slightly after its own AGM. CLX rallied hard up 27.5% on profit guidance last night and IVZ fell 20.6% on additional elevated gas shows. Nothing on the economic front as we digest the FOMC minutes last night. Asian markets mixed with Japan playing catch up rising 1.1%. 10 -year yields slipping back to 3.58%.

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