End of Day Report – Thursday 30 January: ASX 200 up 47, hits intraday record | ZIP comes undone

The ASX 200 up 47to 8494 (0.6%). Record intra day, but unable to hold. Banks led the charge as always, CBA up 1.0% with the Big Bank Basket up to $264.96 (0.8%). MQG rallied 1.4% with insurers also in demand, XYZ up 2.8% and REITs firm on rate cut hopes. GMG bouncing 0.8% and SCG up 0.8%. Healthcare was stronger, CSL perked up and have been doing well recently. PME up 1.2% and OPT up another 1.0%. Industrials also in the green, WES up 0.7% with ALL up another 3.7% and REA gaining 0.9%. Tech stocks were mildly positive with the All-Tech Index up 0.6% and WTC gaining 0.9% despite AFR headlines. Resources were a mixed bag. Iron ore doing well as BHP rose 0.9% and FMG up 0.3%. Lithium stocks stalled, PLS down 1.3% despite positive broker comments. Gold miners squeezed higher, quarterlies in focus. GMD up 1.3% and NEM up 0.1%. Uranium stocks fought back again with BOE up 4.7% and PDN doing well. Oil better, WDS up 0.7% and KAR with its production and a buyback up 7.7%. In corporate news, ZIP came undone on quarterly numbers, down 25.4%, CCP dropped 12.6% on results and MIN fell 0.9% as debt blew out to over $5bn. MFG fell 8.3% as Gerald Stack stepped aside and IGO fell 1.8% after reporting an earnings loss. In economic news, nothing locally except economists falling into line on rate cuts in February. Asian market affected by Lunar New Year.  Japan open and up 0.3%. 10-year yields 4.38%.

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