End of Day Report – Tuesday 4 June: Quiet Day | Banks Hitting Records

ASX 200 slips 24points to 7737 (+0.3%) in lacklustre trade. Banks held up after good gains yesterday, the Big Bank Basket at $212.35 (+0.6%). Insurers slipped back, and MQG went nowhere. REITs mostly weaker, GMG up 0.6% with others softer, SCG off 1.3% and GPT down 0.9%. Healthcare mixed CSL with a slight gain, SHL down 0.5% again. Industrials were flat, TLS up 0.3% and BXB down 1.2%. QAN rebounded 1.2% with retail still struggling. LOV down 2.2% on broker revisions. HVN off 0.7%. Resources were weaker with the exception of the gold miners, making up some lost ground from yesterday, NST up 1.0% and PRU up 3.0%. Iron ore stocks fell again, BHP down 1.2% as were RIO and FMG off 0.8% and 1.9% respectively. Lithium and uranium stocks fell, PLS down 1.8% and PDN off 1.5%. Oil and gas stocks smacked down on OPEC + news, WDS off 1.8% and BPT off 2.4%. In corporate news, 360 launched an IPO in the US. COE affirmed guidance, and John Borghetti was appointed chair of Crown On the economic front, the Balance of Payments came in a little undercooked. Asian markets mixed again, Japan down 0.4%, China flat, and HK up 0.5%. 10-year yields 4.31%. Dow Futures down 14 points. NASDAQ Futures down 6 points.

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