End of Day Report – Friday 8 Mar: US jobs data tonight

ASX 200 finished at record highs of 7847up 83 points (1.1%). Up 102 points for the week. Banks were as usual the big driver, hitting highs, the Big Bank Basket up to $214.07(). CBA pushed 1.8% ahead, NAB up 2.3% and WBC up 2.6%. MQG continued higher up 2.0% and insurers up as VUK screamed ahead on a deal with UK Building Society up 33.0%. Even the ASX managed a 1.6% gain. Industrials in demand, TLS up 1.1%, WOW up 1.7% and COL running 1.2% ahead, WES up 0.8%. Healthcare did well, CSL recovered 1.3% and RMD underperformed the US listing up only 0.5%. REITs solid and Tech up 1% on the Index, WTC up 2.3% despite ex dividend. Resources were the ugly sister that did not go to the ball. BHP unchanged, RIO down 0.6% and FMG off 0.3%. A stronger AUD not that helpful. Lithium stocks mixed PLS down 0.7% and MIN up 0.6%. Oil and gas stocks up on crude prices, WDS up 1.7%. In corporate news today, GQG off 1.8% on a sell down from a shareholder, MAG surged 37.8% on a deal with MIN and SQM spoke of aggressive Australian expansion. On the economic front, US jobs data tonight, 200k is the magic number. Asian markets generally higher, HK up 1.2%, Japan up 1.0% and China unchanged. 10-year yields 4.0%.

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