Marcus Today End of Day Report 27th August

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ASX 200 fights back from early losses to close down 3 points to 7488 ahead of Powell’s appearance on Zoom. Banks were slightly firmer with the Big Bank Basket up slightly to $183.49. CSL performed well with the rest of healthcare flat, Resources eased as BHP fell 0.6% and MIN slipped 1.4%.

Base metal and lithium stocks were depressed as ORE dropped 5.3% and PLS down 6.6%. Industrials were mixed as Tech slipped on APT falling 1.4% and two of the troubled stocks APX and A2M continued to sour.

Corporate news again dominated, WES slipped 2.8% despite a $2 special dividend and DDR fell 8.1% on a sale of stock from Mr Dicker. Travel stocks were mixed with QAN flying 2.2% on analyst comments, WEB down 2.0% and FLT modestly lower.