End of Day Report – Monday 25 November: ASX closes up 24 as momentum wanes | Banks ease on APRA

Market Updates

ASX 200 hits new records up 24 points to 8418 (0.3%). Some profit taking creeping in, but US Treasury appointment helping sentiment. Banks paused for breath with CBA up 0.7% and ANZ slipping 1.3% with the Big Bank Basket down to $264.99 (). Financials and insurers though better, SUN flat and ASX rallying 1.8%. REITs rallied hard on easing 10-year yields, GMG up 1.5% and SCG up 2.8%. Healthcare too in demand, CSL bouncing 1.7% with PME AGM providing a solid backdrop, up 2.7%. Industrials too stronger, WES up 1.9% and retail doing well, JBH up 0.4% and LOV rallying 2.4% on broker comments. Tech better, WTC up 0.8% and XRO up 0.9% with the All-Tech Index up %. Resources back in the doghouse as iron ore prices remain under pressure in Asia, RIO down 0.4% and base metals and lithium off too. PLS down another 3.8% with gold miners under the hammer too, NST off 1.6% and EVN down 1.0%. Oil and gas mixed and coal eased, WHC off 2.5%. In corporate news, some M&A activity in small caps with SWF agreeing to a revised BFG bid, BTH getting another bid, SGF getting a good NBIO from PEP. IPO CCL hit the bourse and fell 7.6% on debut. Good to see that code back! Nothing locally on the economic front, China kept one- year rates unchanged. Asian markets mixed, Japan up 1.5%, China down 0.5%, HK down 0.4%
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