End of Day Report – Monday 13 May: Waiting... Late Bank Push Helps

ASX 200 rose 1 point to 7750 in quiet pre-budget trade. Narrow trading range with banks weaker as ANZ and MQG went Ex Dividend. The Big Bank Basket up to $208.05 (+0.5%). Insurers tickled higher QBE down 0.1% and SUN up 0.4% with REITS slightly lower, GPT off 0.7% and SCG down 0.6%. Industrials mixed, WOW up 1.0% but REA off 1.6%, SVW fell 2.4% and WES up 0.8%. Tech stocks mixed too XRO down 1.9% with WTC up 0.7% and the All-Tech Index down 0.6%. In resources, BHP pushing higher as FMG fell 0.6% and RIO dropped %. Lithium and uranium stocks falling hard in places, NXG dropped % with PLS off 1.5% and MIN down 0.9%. Gold miners mixed as DEG cap raise weighed on the sector. Oil and gas stocks are falling, WDS is down 1.1%, and BPT is up modestly. In corporate news, FBU has yet another profit warning falling 10.9%, SXL fell 9.0% as part of the consortium pulled out, RMS upgraded its Mt Magnet outlook rallying 1.5% and SYA down 6.8% on drilling results in Canada. In economic news, plenty of leaks from the Budget due tomorrow night, NAB business survey was pretty much stable. Asian markets mixed, Japan down 0.3%, China unchanged and HK up 0.7%. 10-year yields 4.34%.

Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.

Ready to invest in yourself? Join the Marcus Today community.