Marcus Today End of Day Podcast – Wednesday 9th November

Marcus Today Market Updates

The ASX 200 closed up 40 points (+0.6%) to 6999, adding to yesterday’s 25-point gain. It was gold’s time to shine today, as miners rallied hard with NCM up 6.9%, NST up 6.8% and EVN up 9.3%. Other resources remained in good shape, with BHP up 2.1%, RIO up 2.4% and FMG up 3.0%. The banks evened out. CBA, ANZ, and WBC finished marginally higher, but NAB failed to keep up, down 0.9%, as it reported falling NIM. The Big Bank Basket was up 0.1% to $184.70. Energy was mixed. Oil stocks did okay despite a falling oil price overnight. WDS was up 0.5%, STO was 0.9%, and ORG was up 0.7%. But coal stocks took a bit of a hit, as WHC reported negative impacts weather impacts, down 8.5%. Technology stocks lagged, the All-Tech Index was down 1.5% and the worst sector. REA fell 4.3% on its results despite lifting revenue and commenting that listings are positive. Industrials were mostly lower, WOW and COL were down around 0.5%. Healthcare stocks were mixed, CSL and SHL were both down 0.4%, but RMD rose a touch, up 0.1%. In corporate news, HLO fell 11.5% as QAN sold its $33m stake in the company. WHC fell 8.5% on a bad weather update. NWS dropped sharply, down 11.2%, as it reported a 1% fall in revenue. In China, inflation fell more than expected to 2.1% YoY in October. Asian markets are opening lower. European futures are mixed. Dow Futures are down 17 points, and NASDAQ Futures are up 33 points. US midterm results are starting to come out.
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