End of Day Report – Tuesday 17 September: ASX 200 up 19, just shy of record

ASX 200 finished up 19 points to 8141 just shy again of a record close. Relatively quiet and steady ahead of crucial Fed move on Wednesday. Banks were slightly firmer, the Big Bank Basket up to $246.14 (+0.2%). Financials a little mixed, SUN down 0.3% and ASX off 0.2%. REITs firmed, GMG up 0.8% and SCG up 0.5%. Healthcare eased back a little, FPH down 0.2% and COH down 1.1%. Industrials firm but idle. BXB is continuing to power ahead, up 2.5%, QAN is up 1.9%, and ALL is moving 1.4% better. Tech slightly better as XRO rose 2.6% after an acquisition. In resources, the iron ore miners pushed a little higher. BHP unchanged, FMG up 1.8%. Gold miners mixed despite bullion rising, EVN down 2.0% and NEM off 1.8% with PRU up 2.0%. Lithium remains depressed, PLS off 1.0% and IGO down 1.7% with rare earths under some pressure again, LYC down 1.2%. Oil and gas stocks firmed ever so slightly, coal mixed and uranium stocks pretty much unchanged. In corporate news, RPL has made an approach to PTM seeing the target stock rise 12.6%. Another bid for PSQ, and BTH attracting attention too from a predator. Nothing on the economic front as we wait for the Fed. In Asian markets, a stronger yen put the Nikkei under pressure losing 0.6% and HK up 1.5%. 10Y yields steady around 3.83%.

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