End of Day Report – Tuesday 5 November: ASX 200 down 33 in quiet trade | RBA leaves rates on hold

ASX 200 finishes down 33 points to 8132 (0.4%). Quiet trade on Cup day with the RBA leaving rates on hold as expected. Banks eased back slightly, CBA down 0.4% with WBC seeing some modest downgrades falling 1.5%. The BigBankBasket dropped to $ (). MQG still seeing selling off 1.8%. REITs mixed, GMG down 0.6% and CHCup 0.7%. Healthcare too coming under a little pressure, CSL off 0.8%, RMD down 0.2%. Industrials and tech eased back, TLS down 0.3% and REA down 1.3%. In resources, BHP and other iron ore stocks flat on better-than-expected Chinese data and hopes for more stimulus. PLS rose 1.7% with MIN up 4.1% bouncing after the drubbing yesterday. Gold miners slid, VAU down 2.6% and WGX down 2.5% ahead of election. Oil and gas stocks down despite a rise in crude with uranium stocks finding a little support. In corporate news, DMP updated the market with disappointing Japanese and French pizza sales, CEO Don Meij also set to retire, down 6.3%. LIC rose 7.7% as HMC took a stake. HVNwill have to wait until May to see what its fine is for misleading customers. On the economic front, Judo Bank Services PMI rose to 51.0 in October. Asian markets all positive, Japan up 1.3%, China up 2% and HK up 1.2%. 10-year yields 4.56%.

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