End of Day Report – Tuesday 25 March: ASX wilts to close up 6 points | US Futures weaken

The ASX 200 gave up strong gains to finish up 6 points at 7943 (0.1%) as US futures turned slightly negative. Banks were mixed with ANZ sold off by 3.2% and CBA up 0.7%. The Big Bank Basket down to $242.05 (-0.1%). MQG had a good day, up 2.6% as financials generally did well. RPL came clean with its exposure to OPT. VG1 rose 0.6% with RF1 down 2.4%. REITs did well, SGP up 0.8% with SCG up 0.9%. Healthcare too in demand, CSL up 1.4% and RMD up 1.5%. Industrials generally firmed, JBH up 1.0% and WTC bouncing 3.8% with the All-Tech Index up 1.1%. REA and CAR bouncing back on tech enthusiasm.

Resources mixed again, BHP off 0.7% with FMG sliding 1.3%. Gold miners were slightly better with news of a bid for GOR dominating the sector. GOR rose 13.9% with GMD up 0.6% and SPR up 1.2%. Lithium stocks under some pressure, LTR down 3.9% and MIN back 1.0%. JHX continued to slide, 5% down. Oil and gas stocks firmed with uranium buyers getting a note from their parents to avoid buying. PDN fell another 2.4% with NXG running hot on drill results, up 5.8%. In corporate news, NHC fell 3.6% after downgrading its convertible bond conversion price.

Nothing on the economic front ahead of the Budget tonight. Asian markets saw sellers hit HK down 2.2%, China down 0.2% and Japan up 0.2%. 10-year yields steady at 4.43%.

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