Listen "End of Day Report – Monday 17 November: ASX 200 claws back early losses | Iron ore helps, ELD cheer"
Episode Synopsis
The ASX 200 closed up 2 points to 8636 in a quiet session ahead of a big week in the US. Good comeback after a near 50 point fall this morning. Some signs of confidence returning with banks seeing a resumption of the sell CBA, buy the other three switch. The Big Bank Basket fell to $272.47 (-0.4%) as CBA dropped 1.0%. MQG ex-dividend today, down 2.3% with financials slightly firmer, QBE up 0.5% and HUB up 2.7% with NWL gaining. REITs firmed, GMG up 0.5% and CHC up 1.7% with industrials finding their feet, LNW up 3.3% with WTC up 1.2% although XRO fell another 0.1%. Retailers firmed, UNI up 1.7% and PMV up 2.1% with DMP gaining another 5.1%. GYG continue to fall, down 1.8%. Healthcare eased back, RMD under pressure off 2.1%, CSL down 0.8% and SHL slipping 1.5%. Resources were mixed, BHP fell 0.6% on the UK court ruling, RIO and FMG both better on higher iron ore prices in Asia, lithium staged a comeback, PLS up 3.7% and IGO rising 0.9%. LYC also bounced 5.5% with gold miners mixed. No significant damage done. GMD up 2.5% on a broker upgrade. Energy stocks all better, WDS up 0.9% and ALD rising 3.8%. IPX fell 3.0% after a return to trade following a report from Spruce Capital.PME jumped 4.2% on another $44m deal with Advanced Radiology. Some management changes, RHC rose 1.8% on a new CFO, MSB rallied 5.0% on a new CFO too with FPR better on an acquisition. ELD gained 6.3% on better than expected results.Nothing locally on the economic front. RBA board member wrote a column on the RBA mandate. In Japan, GDP came in better than expected.Asian markets weaker with Japan down 0.4%, China down 0.4% and HK off 0.6%.European markets set to open slightly weaker.Want to invest with Marcus Today? Our MT20 portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you.If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services. Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.
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