End of Day Report – Friday 29 November: ASX down 8 points | Quiet end to the week

ASX 200 drifts 8 points lower to 8436 (0.1%). Banks eased again with CBA unchanged with NAB and ANZ off around 1%. The Big Bank Basket fell to $262.13(-0.3%).  MQG dropped 0.6% with insurers down too. REITs slipped with SCG off 1.1% and VCX off 1.8%. Utilities slipped with ORG off 0.3% and industrials mixed again, TCL off 1.4% and SGH bouncing back 0.7% with REH up 0.6%. Tech mixed with WTC up 1.8% and XRO off 1.2% and the All-Tech Index %. REA and CAR eased back and retail mixed, JBH down 0.3% and LOV up 0.7%. Iron ore miners rose, BHP up 1.3% and FMG up 1.6% and the gold miners rose led by NST up 0.8% and NEM up 1.5%. Lithium in the doghouse still. PLS unchanged and LTR down 1.4%. In corporate news, SHV went nuts for a while before cracking and falling 5.4%. RSG paid another tranche of money to the Mali government. Whilst on the economic front, economists raced each other to push out rate cuts further in 2025. Asian markets mixed as usual, Japan down 0.4%, China up 2% and HK up 1.3%. 10-year yields steady at 4.36%.

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