End of Day Report – Monday 15 April: Limp Start to the Week | Gold Down Despite Bullion Rise

Marcus Today Market Updates

The ASX 200 has dropped 36 points to 7753 (0.5%) on US falls. Banks eased back led lower by CBA down 1.4% with the Big Bank Basket down to $203.73 (0.8%). Insurers fell away as did MQG off 0.8% and GQG off 4.2%. REITs fell too, GMG down 0.8% and SGP off 0.9%. Industrials with a light dusting of negativity across the board. Tech eased with WTC off 1.2% and XRO down 1.7%. Interest rate sensitive stocks fell TCL off 0.8% and REA falling 0.7%. Retailers also slipping lower, JBH down 0.5% and APE off 1.1%. In resources, Iron ore was the bright spot as BHP rose 0.6%, RIO shooting the lights out up 3.6% and FMG flat. Gold miners fell despite record high bullion prices, EVN down 1.3%, GMD falling 4.5% and GOR down 6.6% on a potential acquisition. Lithium stocks remain under pressure, PLS down 3.7% with LTR off 2.7%. Aluminium and Nickel stocks doing well on LME changes, AWC up 6.0% and NIC up 4.1%. Oil and gas modestly better, and coal is up slightly. In corporate news, TIE received a revised bid, NXT returned to trade following rights issue, little else. No economic news. In Asian markets, Japan slipped 0.2%, China up 1% and HK down 0.6%. 10-year yields rising to 4.26%.
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