End of Day Report – Friday 1 May: ASX 200 up 64 points | ANZ curbs enthusiasm, resources shine

The ASX 200 popped 64 points higher today to 8730, up 0.7%. Ends longest losing streak since 2018. Down 0.7% for the week. Banks were flat following a slightly disappointing outlook from the CEO of ANZ as the first bank to deliver its profit result. The Big Bank Basket closed at $286.93 (-0.6%). The rest of the finance sector did well, though, with MQG pushing up another 1.3% ahead of results next week. Insurers also did better, with QBE rising 0.6% and IAG having a very solid day. Whilst over on the REIT sector, we saw good strength across the board, with GMG up 1.3% and GPT up 1.3%. Industrials were a mixed picture, with WOW still smarting after its comments yesterday on earnings guidance down %, whilst COL rose 3.7% after its own trading update. Tech stocks were once again mixed, with WTC rising 2.4% and XRO also slightly firmer, with the All-Tech Index up 0.8%. Health care once again had another mixed picture, with RMD falling 3.5%. Although CSL managed to hold firm, COH found some friends up 5.1%.

The real action today was in the resource sector, as we saw a bounce back in the iron ore majors, with BHP up 2.3% and RIO doing very well, up 2.7%. Once again, lithium stocks were in demand, with LTR featuring very strongly and PLS also up 2.0%. The gold miners were better, as the bullion price picked up and some end-of-week book squaring with EVN up 2.1%. In the oil and gas space, WDS slipped 1.3% and STO was unchanged, with coal stocks slightly firmer and uranium stocks picking up some ground after a volatile week.

In corporate news today, we had the ANZ result, with COL also delivering an in-line result. Nothing on the economic front, though analysts are falling over themselves to predict that the RBA will raise rates next week.

Asian markets mixed as Japan up 0.6% and China and HK easing back. 

US Futures pushed slightly higher with the 10-year yields easing to 5.02%

—

Marcus Today – Daily Market Insights

Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.

If you'd like to go further:

Start a free 14-day trial of Marcus Today
http://bit.ly/mt-trial-podcast

Join Marcus Today
Use code MTPODCAST for 10% off
http://bit.ly/mt-join-podcast-offer

MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast

Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast

—

Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.