Market Updates

End of Day Report – Tuesday 19 May: ASX 200 jumps 99 | Banks lead rebound, CSL better too

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0:00 | 14:01

The ASX 200 bounced back 99 points today to 8605 (1.2%) as banks led the recovery. CBA gained % with the Big Bank Basket up to $271.83 (=1.5%%). NAB the standout gaining 2.0%. MQG also had a good day up 1.9% and insurers did well as higher bond yields helped, QBE up 2.9% and MPL rising 2.1%. REITs also had a better day with GMG up 1.8% and CHC up 2.2%.

Industrials were firm, WES finally finding buyers up 2.4% and TLS gained 2.6%. WOW and COL both did very well on some broker upgrades. Healthcare also found support, CSL up 2.6% and RMD gaining 2.0%. BXB fell another 0.6% and TUA up 17.6% after a 68% fall yesterday. Tech slightly better with the All-Tech Index up 0.8%.

Resources eased back, iron ore off in Asia, BHP down 0.1% and FMG down 0.3% with gold miners mixed, NEM up 1.8% and NST falling 0.7%. Lithium and rare earth stocks slid, LYC down 4.3% and PLS falling 1.3%. Oil and gas stocks held, uranium stocks gained, coal better too.

In corporate news, MIN rose 2.6% after it announced a restart at Bald Hill, SLC flagged a 4.5m share purchase for staff. TNE fell 2.9% as FX headwinds hurt.

On the economic front, RBA minutes pointed to a pause perhaps from the RBA. 

 Asian markets bounced a little, Japan down 0.5%, HK flat, China down 0.4% Kospi down 2.8%.

US futures lower with Dow down 39, Nasdaq down 105.  European futures opening around 1% lower. Oil down around 2%.

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