Marcus Today End of Day Podcast – Thursday 1st December

Marcus Today Market Updates

ASX 200 jumped out of the blocks today finishing up 70 points at 7354 (1.0%). The Powell Punt now live. Resources led the charge selectively, BHP up 2.11% with RIO up 3.3% on Chinese reopening hopes. Gold miners did well as the USD fell away, NCM up 4.3% and NST up 3.0%. Base metals stocks better CHN up 5.7% and IGO up 4.0% with PLS better by 2.2%. Patches of weakness with oil and gas mixed, WDS falling 1.7% on its impending investor day, STO up 0.4% on better crude prices and KAR up 2.6%. In the industrials, green across the screen with interest rate sensitive stocks better, REITs up with GMG up 0.4% and SCG better by 1.4%. ‘Old Skool’ Platform stocks doing well, REA up 2.4% and SEK rallying 2.6%. Staples ok but unspectacular. Healthcare eased with CSL down 0.5% though FPH kicked another 2.7% higher on broker optimism. In the banks, the Big Bank Basket showed a modest gain, at $188.97 (+0.6%). MQG did well up 1.9% and Insurers mixed with MPL 1.7% better as the last data hits the dark web. In corporate news, DMP tapped the market for a thin and crispy cap raise to buy the German partners out. RF1 is raising $79m to increase the fund at NTA, COH down 0.5% and has drawn the attention of the ACCC. AGY issued an update to its Rincon operations, up 6.4%. On the economic front, private new capital expenditure unexpectedly fell 0.6% quarter-on-quarter. Meanwhile, in Asia, Japan followed the US higher by 1%, China up 1.3% and HK up 1.6% 10-year bond yields fell to 3.49%. Dow futures up 22 points. Nasdaq futures up 29 points.
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