End of Day Report – Monday 28 April: ASX up 29 as confidence wanes | US Futures ease

The ASX 200 jumped out of the box to finish up 29 points to 7997 (0.4%) as some caution crept in as the day wore on. CBA turned negative, not helping as NAB soared 1.7% and the Big Bank Basket fell to $260.16 (-0.2%). Financials were generally firm, AMP finding a few new friends up 2.5% and XYZ bouncing slightly. GQG fell 1.4% and PNI popped 2.7%. REITs were mixed, GMG rose 0.8%. Healthcare stocks back in favour, RMD up 2.4% and even CSL put on 1.0% with PME up 3.7%. TLX fell 6.6% on FDA news. Industrials were positive with WES up 1.4% and the tech space better, XRO up 1.9% and the Index up 1.3%. Retailers getting a boost with JBH up 1.5% and AX1 rising 1.7%. HVN also put on 2.4%. In resources, gold miners continued to see profit taking as bullion slipped further as risks cooled. NEM fell 1.3% with VAU down 2.3% and GMD falling 3.6%. Lithium stocks are under pressure again, with LTR down 4.4% and PLS falling 2.4%. BHP slid 1.1% with RIO unchanged. LYC led rare earth stocks higher on its quarterly, uranium stocks saw modest moves with STO up 2.2% and WDS gaining 1.8%. In corporate news, BVS slid 11.2% on a surprise CEO resignation. AGI rose 31.1% as minority shareholder bid 100c for remaining shares. Nothing on the economic front today. China making some noises about stimulus and protecting jobs. Asian markets firmed, Japan up 0.4%, China unchanged and HK up 0.1%. 10-year yields falling to 4.16%.

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