Market Updates

Marcus Today End of Day Podcast – Tuesday 29th November

November 29, 2022 Marcus Today
Marcus Today End of Day Podcast – Tuesday 29th November
Market Updates
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Market Updates
Marcus Today End of Day Podcast – Tuesday 29th November
Nov 29, 2022
Marcus Today

ASX 200 rose 24 points to 7253 as iron ore drives the market from negative to positive. Quiet conditions with Chinese stability helping sentiment. Iron ore hit US$100 in Singapore pushing BHP up 2.1%, FMG up 2.2% and RIO up 3.5%. Base metals rose slightly, S32 up 3.0% and MIN doing well up 2.4%. Lithium stocks found some buyers but conviction remains low. Gold miners under a little pressure as USD rises, NCM down 0.1% and NST off 0.5%. Energy stocks mixed with WDS off 0.4% and STO up 1.1% on its BKW deal. Old king coal a very mixed soul, WHC down 1.8% and YAL up 0.4%. Banks were flat with CBA down 0.4% dragging the Big Bank Basket to $188.52. Other financials drifted off, MQG down 0.3% and ASX off 4.7%. Industrials slightly weaker in thin trade. WES fell 0.3%, ALL down 0.8% and REITS slipped slightly, GMG down 1.2%. Healthcare was firm led by CSL. RHC up 0.9% on its AGM and FPH doing well on its results up 9.8%. Tech stocks going nowhere, XRO up 1.0% and the index unchanged. In corporate news, CKF dropped like a hot bucket of chicken down 19.8% on inflation biting margins. Some presentations around in CIA and AGY and in economic news, consumer confidence is picking up a little after the budget. Asian market calmly better after the weekend of protests in China. HK up 3.9%  10 year yields steady at 3.61%.

HEADLINES

  • Winners: FPH, ACL, AGY, PBH, MAD, NAN, BGL, SYR
  • Losers: CKF, RNU, LFG, OBL, MGH, GNC
  • Positive sectors: Iron ore. Banks. Healthcare. Lithium.
  • Negative sectors: Industrials. REITs. Oil and Gas.
  • High 7254 Low 7201 
  • Dalian iron ore up in Asia.
  • Big Bank Basket: Closed up at $188.52 
  • All-Tech index: Unchanged.
  • Gold steady at $2614
  • Bitcoin: Steady at US$16,267
  • Aussie Dollar: Higher at 66.99c
  • 10-Year Yield: Steady at 3.61%
  • Asian markets: Japan down 0.5%. HK up 3.9% China up 3%
  • US Futures: Dow up 70 Nasdaq up 54.


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Show Notes

ASX 200 rose 24 points to 7253 as iron ore drives the market from negative to positive. Quiet conditions with Chinese stability helping sentiment. Iron ore hit US$100 in Singapore pushing BHP up 2.1%, FMG up 2.2% and RIO up 3.5%. Base metals rose slightly, S32 up 3.0% and MIN doing well up 2.4%. Lithium stocks found some buyers but conviction remains low. Gold miners under a little pressure as USD rises, NCM down 0.1% and NST off 0.5%. Energy stocks mixed with WDS off 0.4% and STO up 1.1% on its BKW deal. Old king coal a very mixed soul, WHC down 1.8% and YAL up 0.4%. Banks were flat with CBA down 0.4% dragging the Big Bank Basket to $188.52. Other financials drifted off, MQG down 0.3% and ASX off 4.7%. Industrials slightly weaker in thin trade. WES fell 0.3%, ALL down 0.8% and REITS slipped slightly, GMG down 1.2%. Healthcare was firm led by CSL. RHC up 0.9% on its AGM and FPH doing well on its results up 9.8%. Tech stocks going nowhere, XRO up 1.0% and the index unchanged. In corporate news, CKF dropped like a hot bucket of chicken down 19.8% on inflation biting margins. Some presentations around in CIA and AGY and in economic news, consumer confidence is picking up a little after the budget. Asian market calmly better after the weekend of protests in China. HK up 3.9%  10 year yields steady at 3.61%.

HEADLINES

  • Winners: FPH, ACL, AGY, PBH, MAD, NAN, BGL, SYR
  • Losers: CKF, RNU, LFG, OBL, MGH, GNC
  • Positive sectors: Iron ore. Banks. Healthcare. Lithium.
  • Negative sectors: Industrials. REITs. Oil and Gas.
  • High 7254 Low 7201 
  • Dalian iron ore up in Asia.
  • Big Bank Basket: Closed up at $188.52 
  • All-Tech index: Unchanged.
  • Gold steady at $2614
  • Bitcoin: Steady at US$16,267
  • Aussie Dollar: Higher at 66.99c
  • 10-Year Yield: Steady at 3.61%
  • Asian markets: Japan down 0.5%. HK up 3.9% China up 3%
  • US Futures: Dow up 70 Nasdaq up 54.


Why not sign up for a free trial? Get access to expert insights and research and become a better investor.