Marcus Today Market Updates

End of Day Report - Wed 12 Jan

January 12, 2022 Marcus Today
Marcus Today Market Updates
End of Day Report - Wed 12 Jan
Show Notes
  • The ASX rose 49 points to 7439 (0.7%). Some caution crept in ahead of US data. Banks were flat with the Big Bank Basket at $180.52. MQG bounced back from recent losses up 1.6%, ASX rose 1.9% though MFG eased 1.9%. Healthcare was mixed, CSL rose 1.9% but SHL down 0.9%.
  •  Industrials slightly better with WES up 0.6%, TLS up 2.0% and TPG up strongly by 5.0% on a broker upgrade. Tech slightly firmer led by APT up 4.8% as Block cheered on Spanish clearance. 
  • Resources were again the focal point. Iron ore miners firmed again as Asian iron ore prices rose, BHP up 1.1% with the vote on the DLC next week and possible radical index changes concentrated in one day. FMG slipped 1.1% on a broker downgrade, RIO rose 0.9% and lithium stocks were again in heaven, PLS up 1.7% and AKE up 4.2%. CXO has another good day up 13.7%. Even NMT went hard up 13.8%. Energy stocks also in demand as oil heads higher, KAR up 3.5% and STO up 3.6%. 
  • Gold miners also doing well, DEG up 3.6% and NCM rose 2.3%. 
  • In corporate news, LTR rose 5.2% after an offtake agreement with LG. Job vacancies rose again and Chinese CPI came in below estimates. 10-year yields eased again to 1.85%.


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