End of Day Report – Thursday 13 March: ASX 200 falls 37 | Gold and copper doing well

 The ASX 200 turned turtle after a promising start and closed down 37 points at 7749. (0.5%). Market heavyweights led us lower with the banks under pressure again, the Big Bank Basket fell to $235.18. WBC off 1.5% and CBA down 0.6%. MQG dropped another 1.2% and insurers slid, SUN off 1.4%. REITS firmed, GMG finding bottom feeders up 1% and SCG rising 0.3%. Healthcare mixed, RMD continuing to fall, down 1.6% and FPH off 1.5%. Industrials fell too, WES off 0.8% and ALL down 0.7% with retail under some pressure, JBH falling 1.4%. Electricity prices are set to rise around 9% on the east coast. PMV off 2.4% and APE falling 2.5%. In resources, Macquarie downgraded coal and coal stocks, WHC down 5.8% and YAL ex div off 12.6%. Iron ore stocks slid too, BHP off 1.8% and FMG down 0.5%. Gold miners doing well today, NEM up 0.9% and NST up 2.5%. Lithium stocks also finding some friends, PLS up 1.8% and MIN moving 3% higher. Oil and gas stocks slightly firmer, uranium stocks also in the green, PDN up 1.8% and BOE up 1.8%. In corporate news, SLH fell 22,2% as the ACCC said they had some concerns on the DP World takeover. NEC appointed Matt Stanton as chief executive.  Nothing on the economic front. Asian markets mixed Japan up 0.3%, HK down 0.7% and China falls 0.4%.10-year yields ease to 4.42%. 

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