End of Day Report – Monday 11 November: ASX 200 falls 29 points | BHP, RIO, FMG smashed

ASX 200 fell 29 points to 8260 (-0.4%). Big iron ore miners were the target today as prices fell in Asia on stimulus disappointment. BHP off 4.1% and FMG down 7.3% with the Three Amigos trading at $179.22. Base metals and lithium stock on the nose too, S32 down 2.6% and PLS slipped 0.7%. MIN down 4.0% as pressure continues to build on the board. Gold miners steadied, NST Up 1.3% and NEM up 0.1%. GMD rose 4.0% on new drilling results. Oil and gas slipped slightly, STO down 0.9% and WDS off 0.2%. Coal eased and uranium stocks saw small losses. In the industrials, Tech did well, WTC up 2.2% and XRO rallying 1.7% as the All -Tech Index rose 0.8%. Healthcare too in the green as CSL rose 0.7% and RMD up 1.9%. WOW, COL followed EDV lowered on a trading update. Banks mixed, WBC lost 0.4% with NAB slightly firmer. The Big Bank Basket up to $253.92 (0.1%). Financials were slightly higher as were REITs bouncing back from last week’s sell off. In corporate news, RSG confirmed some of its executives had been detained in Mali. The stock lost 32.8%. HMC up 4.1% on plans to launch a $4bn IPO for data centres. SGP upgraded its outlook and moved 2.2% higher. Nothing on the economic front today. Asian markets lost ground, Japan unchanged, HK down 2.1% and China off 0.1%. 10-year yields pushed slightly higher to 4.57%.

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