End of Day Report – Wednesday 13 November: ASX 200 drops 62 points | ANZ ex-dividend

ASX 200 recovered to close down only 62 points at 8193 (0.8%). Banks were under pressure with ANZ ex dividend down 4.0% with CBA down 0.4% and NAB off 1.3%. MQG dropped 1.4% with other financials easier. SWF jumped on news BFG has made an 22c offer. Insurers mixed, REITS saw seller back with SGP down 0.8% and SCG off 0.9%. Industrials eased back, WOW down 0.9% and WES falling 1.0%. TCL dropped 2.9% as ALL rose 2.6% on better earnings, retail gave back some of yesterday’s gains. JBH down 0.1% and HVN off 0.7%. Healthcare eased back, RMD off 1.4% and SHL down 0.9%. Resources continue to be battered by the rampant USD. BHP down 0.9% and RIO off 3.3%. FMG managed a small bounce, up 0.8%. Lithium stocks down again, MIN shutting Bald Hill and a class action launched fell 7.2%, LYC down 1.9% with gold miners slipping but no huge sell off. DEG up 0.7% and EVN off 1.3%. Uranium stocks bounced. PDN up 8.6% after the crater yesterday, BOE up 2.0% and oil and gas slid. WDS off 0.7%. In corporate news, JHX jumped 6.2% on earnings beating expectations. NXL dropped 22.2% on an underwhelming update, 360 down 7.4% on missed expectations, and SGR saw short seller covering on sale of PPT stake. In economic news, public sector wages increased faster than private sector pay for the first time in four years in September. Asian markets slightly weaker, Japan down 1.2%, China flat and HK down 0.6%. 10-year yields up to 4.67%. Dow Futures down 70 Nasdaq down 60.

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