End of Day – Mon 4 July

Marcus Today Market Updates

• y ASX 200 rose 73 points to 6613 (1.1%) ahead of the RBA meeting tomorrow with the US markets closed tonight for Independence Day. Banks were the stand-out together with healthcare and industrials, The Big Bank Basket rose to $161.14 with CBA leading the charge up 0.8%. MQG also doing well up 1.8% with insurers a little flat despite bond yields rising. 10 -year yields at 3.53%. MFG under pressure today on another resignation down 9.9%. Healthcare also doing well with CSL up 2.1% and RMD in the winners circle up 2.8%. Industrials rose with WES finding some buyers up 2.5%, REH up 3.4% and TLS doing well still up 1.3%. REITs better despite bond yield rallies, GMG up 2.8% and SCG rising 2.3%. Tech stocks mildly positive with the All-Tech Index up 1.7%. WTC up 2.4% and XRO doing well up 2.3%, with second liners back in fashion if only for a day or so, DUB up 14.84% and 360 rallying 2.5%. Some of the worst of last year finding bargain hunters, KGN up 3.9%. Resources were better with the exception of BHP which fell 0.4%. RIO and FMG eked out small gains of around 0.4%, lithium stocks unchanged, gold miners up slightly with NCM up 2.3% and NST moving 3.7% higher. Oil and gas stocks better too, WDS up 2.7% and STO rallying 3.3%.
• In corporate news, LNK knocked back the revised bid from Dye and Durham, SBM has recommenced discussions with Genesis and SLC announced a buyback. In economic news, Building approvals rose by 9.9% in May. Asian markets mixed, Japan up 0.8%, HK down 0.2% and China up 0.5%

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