Marcus Today Market Updates

Marcus Today End of Day Podcast – Monday 6th February

February 06, 2023 Marcus Today
Marcus Today Market Updates
Marcus Today End of Day Podcast – Monday 6th February
Show Notes

ASX 200 slipped 19 points to 7539 (0.3%) on tepid trade as resources were sold off in lithium and gold miners. NCM held up the Gold Index but the reality was a broad sell off. Only NCM, RIO and BHP in the green today. Lithium stocks under pressure, IGO off 1.4% and PLS down 2.5% with LTR falling 3.9%. Gold miners hit hard as bullion fell, RRL down 1.0%, SLR off 3.6% with NST down 0.9%. NCM rallied 9.3% on news that Newmont had approached the company with a script bid. Energy stocks slightly firmer with WDS up 1.2% and STO up 0.3%. Coal stocks better, WHC rallying 2.9%. In the industrials, REITs fell back to earth with a thud. GMG down 2.5% and GPT down 2.1%. Losses across the board in industrials, Healthcare slid led by CSL off 0.6% and SHL down 2.2%. Tech weaker with the All-Tech Index down 1.2%. WTC falling 2.9% with CPU up again by 2.4%. Banks eased, the Big Bank Basket down $192.06 (0.3%) and MQG off 0.8%. In corporate news, NCK tumbled 13.0% on its results, no guidance and disappointing dividend not helping. MFG unchanged as FUM actually rose despite outflows slowly. PMT up another 9.6% on extension to the recent strike length. On the economic front, retail trade numbers with Asian markets falling as balloons pop. Japan up 0.7% HK down 2.3% and China down 1.7%. 10-year yields 3.47% again.

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