End of Day – Thu 9 June

Marcus Today Market Updates

• ASX 200 fell another 101 points today to 7020 (-1.4%) as once again banks saw widespread selling and resources eased despite good numbers from China. The Big Bank Basket fell to $167.72 (2.6%). CBA down 2.6%, WBC down another 3.7%. MQG held up with a small loss, insurers were under a little pressure, QBE down 0.7% and MFG rose 2.2% on news of Hamish. Industrials were patchy with CSL up 0.3% and RHC up 0.6% with SHL off 1.7%, WES continued its slide down 1.0%, GMG down 1.7% and QAN falling 4.1% as it strains to cope with travel boom. Tech under pressure again with WTC down 3.1%, XRO off 2.6% and the All-Tech Index off 1.3%. BNPL stocks steadied at lower levels, ZIP flat and SQ2 up 0.2%. In resources, BHP fell 2.4%, RIO dropped 1.2% with base metals and lithium under a little pressure, PLS down 5.4% and AKE off 4.2%. Energy stocks mixed, WDS up another 1.9% with STO off 1.1% and coal stocks seeing some sellers as Chinese coal imports weaken on demand.
• 
  
• In corporate news, JLG dropped 5.5% again despite reaffirming guidance, SYR fell 10.1% on a little trouble in Mozambique. In economic news, banks and economists racing to talk down property and the economy and rates rises to come. Meanwhile, in Asia, China slid a little as Shanghai is seeing some isolated lockdowns again, HK down 1.2% and Japan flat.

Why not sign up for a free trial? Get access to expert insights and independent research and become a better investor.