Marcus Today Market Updates
End of Day – Fri 15 Oct
October 15, 2021
- The ASX 200 moved 50 points higher to 7362 (0.7%) today as banks rallied after US results, and miners did well on higher commodity prices. The Big Bank Basket moved up slightly to $184.19%. MQG up 3.7% hitting an all time high, insurers though flat on news that ASIC would be pursuing IAG. Fund managers took a beating as Judith Neilson sold down her holding of PTM as the stock fell 6.9% and PDL down 11.5% on FUM.
- Miners were in demand, BHP up 2.8%, FMG up 2.0% though RIO fell 0.9% on production downgrades due to personnel issues. OZL also had a great day up 5.2% with gold miners mixed, NCM down 0.2% but CHN up 2.2%.
- In the industrials, travel stocks advanced as NSW abandoned quarantine for fully vaccinated travellers, QAN up 2.0% on some excess land sales too. WEB rose 4.0% and FLT up 3.8%. Healthcare better with CSL up 0.2% and RHC riding the reopening wave up 0.8%. Tech stocks better as bond yields steady at 1.63%, APT up 1.7% and XRO doing well up 0.9%. The All-Tech Index up 1.1%.
- In corporate news, TWE poured some sour grapes on the bulls at its AGM falling 5.4% and the Boom in a Room Conference produced some winners not least of which STM rose 22.9% on its show and tell.
- Nothing on the economic front. Goldman Sachs results tonight. European markets opening firm.
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