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
Marcus Today End of Day Podcast – Thursday 1st December
ASX 200 jumped out of the blocks today finishing up 70 points at 7354 (1.0%). The Powell Punt now live. Resources led the charge selectively, BHP up 2.11% with RIO up 3.3% on Chinese reopening hopes. Gold miners did well as the USD fell away, NCM up 4.3% and NST up 3.0%. Base metals stocks better CHN up 5.7% and IGO up 4.0% with PLS better by 2.2%. Patches of weakness with oil and gas mixed, WDS falling 1.7% on its impending investor day, STO up 0.4% on better crude prices and KAR up 2.6%. In the industrials, green across the screen with interest rate sensitive stocks better, REITs up with GMG up 0.4% and SCG better by 1.4%. ‘Old Skool’ Platform stocks doing well, REA up 2.4% and SEK rallying 2.6%. Staples ok but unspectacular. Healthcare eased with CSL down 0.5% though FPH kicked another 2.7% higher on broker optimism. In the banks, the Big Bank Basket showed a modest gain, at $188.97 (+0.6%). MQG did well up 1.9% and Insurers mixed with MPL 1.7% better as the last data hits the dark web. In corporate news, DMP tapped the market for a thin and crispy cap raise to buy the German partners out. RF1 is raising $79m to increase the fund at NTA, COH down 0.5% and has drawn the attention of the ACCC. AGY issued an update to its Rincon operations, up 6.4%. On the economic front, private new capital expenditure unexpectedly fell 0.6% quarter-on-quarter. Meanwhile, in Asia, Japan followed the US higher by 1%, China up 1.3% and HK up 1.6% 10-year bond yields fell to 3.49%. Dow futures up 22 points. Nasdaq futures up 29 points.
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