End of Day – Mon 27 Jun

Marcus Today Market Updates

• ASX 200 jumped on better US markets with the index closing up 127 points (1.9%) as buyers rushed in and window dressing for EOFY took hold. Banks were the major drivers with the Big Bank Basket gaining 3.5% to $164.16. CBA up 4.0% and NAB up 3.4% were the standouts. Insurers also rise with IAG up 0.9% and SUN up 3.6% on demerger talk of the banking business. MQG up 0.6% with NWL rallying 4.8%. Healthcare also in demand with CSL up 0.7% and RHC doing well up 3.0% on media reports of continued PE interest. REITs in demand, GMG up 1.0%. Industrials also in demand as bond yields remained steady at lower levels, ALL up 3.8% WES bouncing 0.8%, COL up 0.6%, TLS up 1.0% and SEK rising 4.1%. Tech stocks too in demand, XRO up 1.2%, WTC up 0.9% and the All-Tech Index up 2.5%. In resources we saw money rush back in to base metals and iron ore stocks, BHP up 3.0%, FMG up 3.5% and S32 up 1.3%. Lithium stocks continuing to find friends, PLS up 4.0% and MIN up 1.1%. CXO the stand-out in the sector, up 12.0%. Energy stocks also doing well, STO up 2.2% and WPL rising %. Coal back in demand on increasing coal pricing ex Newcastle. WHC up % and YAL rising 0.4%. Gold miners were the only losing sector today as EVN announced production issues and the sentiment spread across the sector, EVN fell 21.9% NCM down 5.6% and GOR off 4.2%.
• In corporate news, IMU rose 45.45% on some very positive trial results, SYA up 12.0% on new lithium discoveries, CAR in a trading halt raising $1.2bn in an entitlement issue to buy US Trader Interactive and BWX doing a capital raise to pay down debt after covenants broken. MTS rose 4.1% on its results. Nothing on the economic front today but yields steady at 3.75%. Asian markets better across the board.