End of Day Podcast – Thursday 29th September

ASX 200 kicks 93 points higher to 6555 (1.4%) after a surge in US markets. Some selling into the close though.A slightly better CPI monthly number. First time we have had a monthly number. Very 21stcentury. Every sector was better. Banks doing well with the Big Bank Basket up to $166.88 (0.8%). MQG rallied 0.9% as a market leverage play. Insurers rallied hard too as yields fell, QBE up 1.8% and SUN better by 1.6%. ASX up 2.4% though IRE dropped like a stone following a guidance downgrade, down 17.3%. Healthcare better, CGS the standout on Alzheimer breakthroughs in US, up 16%. CSL up 1.6% and COH rising 2.6%. Even RHC rallied 1.8%. Industrials too doing well, WES up 2.0%, TLS up 1.6% and REITs back in favour. GMG up 0.8% and SCG rallying 2.0%. Tech better, the All-Tech Index up 1.3%, WTC up 2.7% and ‘old skool’ platform stocks also back in demand, SEK up 2.2% and REA better by 2.5%. Resources were a good place to be. Gold miners one of the big winners with NCM up 2.6%,  GMD up 15.2% and NST up 4.5%. DEG also had a decent day up 7.2% and SBM rose 3.0% as consolidation in the Leonora region look to be kicking in again. RED in a trading halt raising money. BHP rose 2.5%, RIO up 1.0% and base metals doing well, IGO up 2.1% with lithium back, PLS up 1.5% and MIN rallying 3.4%. Energy of any sort better again. Coal and oil stocks rising as sabotage and US inventories help sentiment. STO up 2.3% and WHC running another 4.6%.

In corporate news, IRE stumbled falling 17.3%, PMV rose 14.6% after it announced a special dividend and buy back with good numbers from Smiggle. AJL dropped 25.8% as it raised money at 11c. ATL takeover was cleared with some caveats and WOW appointed a new Big W chief.

In economic news, CPI for the month came in slightly less than expected but given petrol prices are rising again, this could be short lived. Asian markets better with Japan up 1%, China up 0.5% and HK up 1.1%

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