Marcus Today End of Day Podcast – Friday 18th August

ASX 200 fights back to close up 2 points at 7148 after a wobbly start. For the week the ASX 200 is down 2.6% as results season and China woes continue. Banks eased back again, CBA down 0.6% with the Big Bank Basket sliding to $172.49 (-0.5%). MQG fell 0.6% but MFG rallied 13.3% on a special dividend and cost-cutting. Insurers flat. REITs were dominated by GMG which has rallied an extraordinary 12% in two days as Data centres a new focus. Elsewhere REITS were sold off. Industrials were mixed, TLS fell 3.2% on broker comments, REA down 1.2% as DHG continued to fall, down another 4.0%. Consumer stocks eased back, ALL down 1.6%, COL fell 1.8% on an automation update, Utilities slightly better with ORG pushing up 1.9%. Tech going nowhere.  In resources, Iron ore stocks on a bounce BHP up 1.4% ahead of results next week, RIO up 0.9% and lithium stocks finding small support. Gold miners better. Oil and gas eased and coal stocks fell.

In corporate news, results dominate, IMU fell 16.0% on a placement, ABG up 10.2% on results, LFS fell 1.7% on its results. No economic data locally, but Japanese inflation eased in core numbers. Asian markets weaker, Japan down 0.7%, China down 0.7% and HK down 1.6%. 10-year yields falling slightly, down to 4.23%.

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