End of Day Report – Tuesday 18 June: ASX 200 has finished the day up 78 points (1%) closing near the high.

Market Updates

The ASX 200 has finished the day up 78 points (1%) to 7778, closing near the high. The RBA’s decision to hold rates passing unnoticed by the market. Bond yields did respond, the AU2Y rising 5bp on the announcement and subsequent Michele Bullock press conference. The Utilities sector was the star performer thanks to a 3.5% rise in ORG. Banks were next best with solid gains continuing. MQG up 2.6%, the CBA up 2% (will tend to do better than its peers which have gone ex-dividend already). ANZ, WBC and NAB still up between 0.9% and 2.1%. Defensives kept up the winning streak. Industrials, Health Care and Staples doing well. TCL unperturbed by the bond yield gains. Up 1.6%. SVW recovered some of its 2.1% drop yesterday. Materials was the only major sector to finish flat thanks to FMG’s big block sale commencing. Down 5.2%. BHP and RIO both managed gains after five straight down days. Up 0.6% and 0.9%. Gold stocks were mixed as bond yields rose. NEM up 2.2% on a broker upgrade. NST down 1.1%. Uranium fairly flat aside from BOE up 2.2%. Spot prices hovering around US$85 a pound. Lithium stocks had a small relief rally after taking a battering. PLS the best up 3.8%. It had fallen 25% in less than a month.
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