End of Day Report – Thursday 6 February: ASX up 104, close to record high | NWS rallies on results

Market Updates

The ASX 200 continues to march ever higher gaining 104 points to 8521 with a cooee of the record close. Banks led, everything else follows. CBA is up %, and ANZ is playing some catch-up football is up %, with the Big Bank Basket up to a new record of $267.97 (2.5%). MQG bounced 0.9% but still some question marks given the banks green and clean push in recent years. Insurers gained, QBE up 0.7% and SUN up 1.6%. GQG continue to push higher up 3.6% and MFG up 2.0% on FUM news. REITs pushed up, GMG up 1.5% and VCX up 0.9% as yields fell. 10-year yields falling to 4.30%. Healthcare mixed, CSL bounced 0.9% with RMD still finding it tough going. Industrials firmed, WES up 3.2% on a broker upgrade with Bunnings the driver. ALL up 1.6% with BXB up 2.1% and REA gaining 1.2% despite the CEO announcing his retirement. NWS results cheered, up 5.8%. Retail mildly positive, MYR fell 5.6% as the in-specie distribution came to pass. In resources, iron ore majors were slightly firmer, gold miners striong as bullion hit new records, NEM up 2.1% ahead of results. WGX bouncing 3.7% with SPR doing well up 4.3%. Some firmness in the lithium market, but energy stocks under a little pressure. STO down 0.6%. Uranium stocks weaker along with coal. In corporate news, NWS released good results, PEXA disappointed with an update, BPT fell 5.0% on a tightening of guidance. In economic news, the seasonally adjusted balance on goods decreased $1,707bn in December. Asian markets better. 10-year yield down to 4.32%.

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