Market Updates

End of Day Report – Wednesday 18 September: ASX 200 hits new record, up a single point!

ASX 200 drifted around to close up 1 point ahead of the Fed. Banks were firm, again, the Big Bank Basket up to $247.05 (+0.4%). MQG rallied another 0.6% to a record close. Financials were a little mixed, REITs generally better, GMG up 0.1% and SCG up 0.5%. Industrials firmed, WOW up 0.3% and COL up 0.4% with WES flat and ORG up 2.2%. Tech drifted around, WTC up 0.4% and the All Tech Index lost 0.2%. In resources, Iron ore resumed trade after a holiday and fell away again, BHP, RIO and FMG all suffered, dragging sentiment down. BHP off 0.9% with S32 down 0.9% too. Gold miners were mixed, NEM up 0.8% and GMD down 0.5%. Lithium stocks depressed again, PLS off 1.0% and MIN down 2.0%. Oil and gas stocks slightly better, WDS announced a ten-year sales deal with the Japanese adding 0.8%. Coal stocks better, NHC up 4.6% with uranium slightly firmer too. In corporate news, HVN fell on a class action, APM shareholders approved its takeover, IMU gets FDA approval for bile tract cancer drug. Nothing on the economic front, Asian markets higher, Japan up 0.4%, and China back from a holiday up 0.5%. 10-year yields drift higher to 3.86%.

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