End of Day – Tue 26 July

Marcus Today Market Updates

ASX 200 pushed 17 points ahead to 6807 (0.3%) despite US futures weakness on Walmart news. Fed watching continues. US results in focus tonight. Resources carried the day with iron ore producers doing well, BHP up 2.5%, RIO up 1.9% and FMG rallying 2.5%. Base metals were also better as OZL ran 1.1% and lithium stocks firmed. Oil and gas doing ok as crude prices rose and Russia cut back gas supplies in Europe. STO up 2.6% and WDS up 2.8%. Coal stock finding friends again with WHC up 6.4%. Some tech in demand as ZIP led the charge up 19.9%, with WTC up 0.8% and XRO falling 1.3%. The All-Tech Index flat. Industrials were sloppy, CSL down 1.5% and ALL to find any cherries down 1.8% with TCL coming under fire down 1.1% and WOW off 1.3%. Banks were mixed but ANZ still a firm fave with the Rights up 0.8%. The Big Bank Basket steady at $170.16. In corporate news, MYR delighted shareholders with some good numbers up 21.3%, quarterlies in SYA and PDN with VUL up 4.9% on council approvals. GRR got whacked 11.4% after its quarterly disappointed. NTO blew up on its Q2 update imploding 22.7%. In economic news, agriculture is going well, Asian markets better with China up 0.8% and HK up 1.4%. 10 -year yields ease to 3.34%
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