Market Updates
A twice daily podcast from the team at Marcus Today, the stock market newsletter for investors, bringing you up to speed with the latest stock market, financial, and business news. Published just before market open and after market close (AEST), Monday to Friday.
Market Updates
End of Day Report – Thu 13 Jan
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Marcus Today
- The ASX 200 moved up 36 points to 7474 vas enthusiasm waned slightly. Resources were once again the place to be as iron ore hit a 3-month high and lithium stocks surged yet further ahead. BHP moved 3.8% ahead of the crucial vote next week, RIO up 4.1% and FMG up 2.5%. In the white powder stocks, PLS rose 4.2%, MIN up 3.0% as a double whammy winner and IGO rose 3.8%. Base metal stocks also in demand and energy stocks better with WPL up 2.3% and STO moving 1.6% higher.
- Gold miners were slightly weaker as NST fell 0.7% and NCM down 0.2%. Elsewhere the banks were firm but uninspiring as CBA rose 0.5% ahead of US bank reports. ANZ up 1.3% and the Big Bank Basket up to $181.82 (0.7%). Healthcare under the pump with CSL down 0.5% and SHL slipping 5.6%, industrials mixed, WES down 2.8% and TLS up 1.0%. Tech off led by APT down 1.3% and XRO off 1.7% as Nasdaq futures turned slightly lower.
- In corporate news, BWX fell hard down 15.1% on management changes, AXE pushed ahead 32.0% on some positive wafer news, CWN was the big story as Blackstone upped its bid to 1310c and the stock rose 8.8% although still trading below the bid.
- Nothing on the economic front today although more evidence of inflation as cattle slaughters significantly down on last season’s numbers. 10-year yields steady around 1.84%. In Asia, major markets lipped as Japan fell 0.9% and China off 0.6%.
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