Marcus Today Market Updates
End of Day – Fri 28 Jan
January 28, 2022
- The ASX 200 closed up 150 points (2.2%) after a strong start and then a flop before gathering and pushing up to 6988 as bargain hunters emerged with book squaring too. We finished the week down 2.6%. Across the board gains with iron ore miners the standout. BHP up 2.7%, RIO up 4.1% and GRR up 4.0%. CIA had a good day rising 8.8% on broker upgrades. Resources back in favour in lithium stocks too as bargain hunters scooped up stocks ahead of the weekend. PLS up 2.0%, VUL up 4.4% and MCR doing well up 0.9% on a broker piece. Energy stock managed to eke out a rise too given oil was slightly weaker, gold miners sloppy, in AUD terms gold was unchanged but damage done yesterday. RSG rose 7.3%, NCM slid 6.4% on its quarterly production issues.
- Industrials firmed led by CSL up 3.2% in the healthcare sector. RMD flat after some positive numbers for Q4 today. SHL and RHC up with industrials like TLS and SEK doing well. Consumer stocks saw gains, WOW up 3.5% and COL rising 5.0%. Banks too in demand with the Big Bank Basket at $171.42 (1.9%). MQG gained 4.0% and ASX is relishing the extra volatility and volumes for equities and derivatives. The stock up 2.9%. Tech rose although SQ2 fell into a hole of 1.0% as Apple iPhones look set to double as merchant payment platforms. Is there anything that an iPhone cannot do. The All-Tech Index rose 2.4%. In company news today, more quarterlies, block trade in MYR thought to be Solly buying more and NCM having some production issues.
- In economic news, PPI rose 1.3%, to be up 3.7% over the year. Asian markets slightly better with Japan up 2.0%, China flat and HK down 0.8% and 10-year yields slip to 1.95%.
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