End of Day Report – Monday 9 December: ASX 200 fights back to close up 2 | ANZ CEO to retire

 ASX 200 closes off lows, up 2 points to 8423. Quiet trade with resources recovering somewhat. BHP down only 0.3% with FMG off 1.2%. Lithium stocks remained under pressure with PLS off 4.4% and MIN down 1.6%. Gold miners slightly better, NST up 1.0% and GMD up 1.9%. Energy stocks lower again with WDS down 1.1% and PDN falling 2.0%.  Banks were mixed, CBA rose 1.5% with ANZ down 3.6% as CEO retires and successor named. The Big Bank Basket up to $261.01 (+0.5%). Insurers weaker, QBE off 1.3% and platforms stocks easing back. SQ2 continues to push higher. Industrials mixed, RMD up 2.3% and FPH rising 1.7% with REITs slipping with the exception of GMG recovering 3.4% from the bungled sell-down last week. Tech a little mixed, XRO up 0.4% and the All-Tech Index off 0.1%. In corporate news, PTM fell 14.4% on news RPL had pulled out of discussions. 360 dropped 8.3% as directors sold small parcels. GQG released positive FUM and rose 6.3% despite cancelling buyback for US tax reasons. In economic news, Chinese CPI rose only 0.2% and Japanese GDP was revised down to -0.1%. Asian markets mixed with Japan off 0.2% and HK and China down 0.5%. 10-year yields steady around 4.21%.

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