End of Day – Wed 22 June

Marcus Today Market Updates

• ASX 200 falls 15 points to 6509 (0.2%) after a strong start peters out. Base metals and lithium shares walloped today with PLS down 2.8% and CXO down 15.4% with S32 off 1.7% and LYC down 4.3%. Iron ore miners held up with BHP up 0.2% and FMG up 0.2% with gold miners flat. Oil and gas better but oil prices falling in Asia so expect some falls in coming days. STO up 1.2%, WDS up 2.0% and coal stocks recovered after shock QLD coal tax. SMR up 11.5% with WHC slipping 1.7% lower. Banks were flat with the Big Bank Basket down to $157.92 (0.3). WBC the worst of the bunch down 0.9% with insurers off too, QBE down 0.3% and SUN falling 1.6%. MQG down too with a 1.0% loss. Healthcare mostly weaker except CSL rising 0.7%. Industrials lost ground as WES fell 0.7%, ALL off 3.4% and TCL falling 1.4%, REITS slipped lower again with GMG off 1.6%. Tech stock eased back 0.8% with CPU falling 3.0% as bond yields continue to moderate. XRO fell 0.7% with the All -Tech Index down slightly by 0.8%.
• In corporate news, HUM rattled by total board chaos falling 3.8%, SBM dropped hard by 18.4% on a Simberi operation review. CWN finally got its P’s with the Sydney Casino.
• In economic news, Westpac leading index for May down 0.06% to 98.05 vs prior 0.15% drop with 10 years at 4.0% Asian markets flat with HK down 1.8% the worst.

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