End of Day Report - Mon 22 Nov

Marcus Today Market Updates

• The ASX 200 finished down 43 points to 7353 (0.6%) as banks and travel stocks weighed in the index. The Big Bank Basket fell to $172.47 (1.9%) as CBA dropped another 2.1% and NAB down 1.2%. MQG joined in the sell off falling 1.0% and insurers were flat to slightly soft. Travel stocks took a hit with FLT down to a 2-month low by 7.1% and WEB fell 3.7% as Europe and US see a rise in CV cases and increased restrictions. Seems winter is not good for CV19 cases.
• Industrials also drifted lower with WES down 0.6%, QAN off 4.0% and REA off 1.1%. Tech fell with APT driving the losses down 2.5% and the All-Tech Index down 1.5%. Miners were a bright spot as iron ore rose in Asian trade, BHP up 0.4%, FMG up 2.1% and S32 doing well too up 2.0%. Base metals also in demand led by POS up 17.0% with lithium stocks back on the march, PLS up 5.1%. Oil stocks fell as a coordinated strategic reserve release looks likely, WPL down 1.9% and STO off 2.1%. Gold miners eased with EVN falling 3.6%.
• In corporate news, BRN raced away up 20.4% on its first real commercial deal with Megachips and NIC rose 8.0% on a MOU in Indonesia. VUL signed an offtake agreement with Renault up 7.1% and CXL had a rocky day after a ASX speeding ticket, falling 7.5%. Nothing on the economic front. 10 year yields steady at 1.80%

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