End of Day Report – Tuesday August 6th - ASX 200 up 31 - RBA leaves Rates on Hold - Asia Recovers _ Tepid Recovery Here

ASX 200 bounces 31 points to 7681 (+0.4%) as Japan rebounds strongly. RBA left rates unchanged as expected. Bank bounced hard, with the Big Bank Basket up to $217.86 (+1.4). Other financials were mixed, MQG gained 1.3%, but NWL fell 0.4%. REITs bounced hard too, GMG up 2.2%, with SGP putting on 0.9%. Industrials firmed, TCL up 0.2%, and WES rallying hard up 2.3%, with tech slightly less enthusiastic. QAN added 1.6%, with retailers also back in demand. JBH up 1.8%, and LOV up 3.1%. Resources were dormant, BHP up 0.4% and RIO down 0.3%, Gold Miners sagged as bullion fell, NST unchanged, going against the trend, NEM down 3.4% and EVN down 1.3%. Diggers and Dealers continues in WA. Uranium stocks rose slightly, and lithium remains slightly depressed. In the oil and gas space, WDS fell 5.1% on another US acquisition. STO better with a 1.5% gain. On the corporate front, AD8 collapsed 36.3% on a weak result and guidance update, TWE rose 1.0% as it moved to focus on premium brands. On the economic front, the RBA head rates unchanged with a hawkish tinge. Higher for longer would seem the mantra. Meanwhile, in Asia, a significant bounce back, Japan up 9.3%, China slightly weaker again and HK down 0.2%. European futures showing a small bounce. FTSE up 1%. France is at the Olympics. Dow Futures up 367 points and NASDAQ Futures up 315 points. 


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