End of Day Report – Wednesday 22 May: Waiting for BHP and Nvidia | APE Fails Rego!

ASX 200 fell 4 points today to 7848 as we await Nvidia results in US. Mixed session all round. Banks were slightly higher with ANZ up 1.1% and the Big Bank Basket up to $211.98. MQG rallied 1.3%, with insurers doing well too, QBE up 1.1%. GQG had a good day, up 6.3% on a director's interest; REITs are generally better, with GMG up 0.5%. Industrials were weaker, APE crashed 15.0% on a profit warning, WES fell 1.8%, and WTC rose 1.5% in mixed techs.  ‘Old Skool’ platform stocks eased, retailers fell, PMV down 2.2%, and SUL of 3.4%. In resources, iron ore picked up and the ‘Three Amigos’ rallied further, FMG up 1.1% and RIO up 1.6%. BHP a little left behind, but it is crunch day today in London. Lithium stocks fell, PLS down 2.2% and MIN off 1.0%. IGO tumbled 3.3%, with NIC under pressure off 2.4%. Gold miners, too, fell out of bed, NST down 1.6%. In corporate news, TLS gave us yet another reason not to buy it with the job losses and shrinking to mediocrity, down 4.2%. WEB took off as it floated plans to demerge the company and announced very positive results. TLX jumped 2.5% on US listing plans. PMT raised money at 85c. In economic news, the RBNZ kept rates unchanged. Asian markets mixed again, Japan down 0.8%, China and HK up a small amount. 10-year yields at 4.27%.

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