End of Day – Wednesday 3rd August

Marcus Today Market Updates

ASX 200 closed down 22 points at 6976 (0.3%) off the lows as Pelosi visit fears calm slightly. Banks slipped lower with the Big Bank Basket down to $175.71 (1%). MQG down 1.4% and ASX slipping 3.4% on yet more delays to CHESS replacement. Insurers slightly higher, QBE up 1.1%. Healthcare fell away with CSL leading the sector flat after early losses, SHL off 1.5% and COH off 0.6%. Industrials eased back with WOW and COL easier by 1.3%, WES down 1.1% and ALL off 1.6%. REITs steady and Tech better. WTC up 3.3% and XRO pushing ahead by 3.6%. The All-Tech Index up 1.8%. In resources, miners staged a comeback with BHP up 0.1%, FMG doing better up 0.7% and base metal stocks in favour. S32 up 0.8% and LYC rallying 7.6% on Mt Weld expansion plans. Lithium stocks better led by PLS and CXO up 2.2% and 4.0% respectively. Gold miners eased off slightly with oil and gas stocks under pressure, WDS down 0.3% and STO off 2.1%. In corporate news, ORI in a halt with a $650m capital raise and an acquisition. RAP rose 50% on an increased offer from Pfizer. In economic news, we had retail trade volumes up 1.4% which gave some hope to the sector. Asian markets being cautious on Pelosi visit with Japan up 0.4%, China flat and HK up 0.6%. 10 -year yields steady at 3.06% after the drop yesterday in RBA news.
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