End of Day Report - Tue 9 Nov

Marcus Today Market Updates

• The ASX 200 finishes down 18 points to 7434 as a promising start came unstuck. Banks again in focus as NAB reported and although a beat on a number of metrics, NIM and costs were of concern. The Big Bank Basket fell to $188.13 (1.2%) with NAB down 0.8%. Other financials followed suit with MQG slipping 0.5% and QBE off 2.3%. Elsewhere, industrials were sloppy with WOW down 0.7%, WES off 0.3% and TLS falling 1.3%. REITS weakened and healthcare staged a partial recovery from Monday’s losses, CSL up 0.9% and FPH rising 2.0%. Mining stocks were in vogue with BHP up 1.0% and FMG rallying 1.8%.
• Gold miners too having a good day with NCM one of the few down on its latest Canadian acquisition. SBM look to be on the road to recovery up 3.0%. Energy stocks slid on the reports that LNG was dead, and hydrogen was the future. Could be a lot of venting from some customers. Tech stocks flat lined with APT up 2.4% and the All -Tech Index up 0.9%.
• In corporate news, CHN was the stand-out superstar stock with its Tier 1 maiden resource rising 28.51%. Recent high-flyer CAE cratered 42.1% after a drilling update and KMD rose 0.7% on a business update. 10-year yields steady at 1.77%.

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