End of Day Report – Thursday 15 August: ASX 200 up 15, jobs numbers stronger than expected

ASX 200 gave up its gains to be up only 15 points to 7866 (0.2%) after being skewered by jobs data and iron ore prices in Singapore. Economic data showed the jobs market was still tight despite the headline number rising to 4.2%. Iron ore slid again in Singapore on Chinese steel news, BHP fell 1.0% and RIO was off 3.6%, including its dividend. FMG down another 2.9% with MIN falling 3.0%. Lithium sector off again, despite PLS bidding for LRS. Scrip bid and PLS dropped 3.9% on the news. Gold miners slid with EVN giving up some recent gains, NST down 0.7% and uranium and coal stocks easing back again. Banks were firm with WBC and ANZ taking up the running. CBA steady and the Big Bank Basket up to $229.33 (0.8%). MQG rallied 1.3% with the ASX bouncing back 0.9%. MFG results out and an acquisition boosted fund managers. GQG up 4.8%. TLS did well on results up 2.1% with many industrials in the green. Healthcare was an interesting space, COH was dumped 7.3% on lower guidance and CSL drifted. Tech mixed, APX down 4.2% and WTC off 0.5%. In other corporate news, ORG fell 9.4% on pessimistic outlook news, GMG beat estimates but not enough to keep it positive, down 1.3%. NUF fell 9.8% on a trading update and TWE reported as expected with the de-premiumisation charge. On the economic front, local jobs numbers came in at 4.2% slightly higher than expected but participation increased. In China, more dismal data and steel companies pulling back hurt commodities. Asian markets slightly better, Japan up 0.7%, China up 0.8% and HK unchanged. UK GDP in focus.

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