Marcus Today End of Day Podcast – Thursday 12th January

 ASX 200 surged again as resources boomed, the index up 85 points to 7280 (1.2%). Big miners in demand with BHP up 1.8% to another 52-week high, FMG up 2.8% and RIO up 1.5%. Lithium and rare earths better too, PLS up 4.5% and LYC up 2.1%. Gold miners mixed, NCM down 0.6% and NST up 0.9%. Energy stocks a little mixed, coal stocks eased, SMR down 2.5% WHC off 1.4% while oil stocks better, WDS up 2.1%, STO up 1.0%. Industrials once again firm but unexciting. REITs taking their cue from US peers and lower 10-year yields, GMG up 1.5%, SCG up 1.0%, healthcare up led by CSL up 1.2. Others slightly firmer. Banks another strong sector with the Big Bank Basket shaking off its recent torpor, up to $183.73 (1.6%). MQG rallied 1.6% as Goldman Sachs wields the axe. In corporate news, MAF downgraded expectations, falling 10.7%, GOR stumbled 3% lower with production 14% below consensus, the PDL/PTM deal is done and dusted. IRI flags an EBITDA rise but warned on cost pressures, up 10%. In economic news, good trade numbers helping sentiment for miners. Asian markets becalmed. 10-year yields slipping to 3.59% as bets increase that RBA will go another 25bps in Feb.

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