End of Day Report – Thursday 8 October: ASX 200 drops 67 - Firmus in doubt - Banks fall - Miners under pressure - MGH drops 22%
Market UpdatesShow Notes
The ASX 200 fell 67 points to 8,661. Rumours continued to swirl around the Firmus IPO and repricing due to valuation question marks. The banking sector was weaker today, with CBA down 1.5% and NAB down 1.6%. The Big Bank Basket fell 1.5% Also, we saw MQG succumb to gravity, falling 0.8%. Insurers were better on the back of higher bond yields, with QBE up 1.4% and IAG also doing well, up 2.2%. The rest of the financials eased back, although we did see gains for ASX, up 3.8%. Rates were a littl...
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The ASX 200 closed down 38 points at 8793, well off the lows, as the banks continued to offer stability, whilst mining stocks were generally easier, with comments from FMG on Chinese iron ore negotiations hurting the big boys and falling 4.5%. BHP lost 2.4%. Gold miners were also slipping after a slightly positive start, but bullion prices eased in Asia. The oil and gas sector was also easier, with WDS down 3.5% and STO down 1.3%. The banks held steady, with ANZ up 1.2% and the Big Bank Baske...
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A big hit for Nextdc today, down more than 40% after a power delay at its Melbourne data centre slashed its earnings guidance. The ASX 200 still edged higher as the banks bounced. The RBA’s Hauser warned inflation is running well above forecast, and markets now see a November rate hike as more likely than not. Marcus Today – Daily Market Insights Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without...
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Marcus Today – Daily Market Insights Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise. If you'd like to go further: Start a free 14-day trial of Marcus Today http://bit.ly/mt-trial-podcast Join Marcus Today Use code MTPODCAST for 10% off http://bit.ly/mt-join-podcast-offer MT20 – Managed ETF Portfolio A professionally managed portfolio run by Marcus Padley and the team, using ASX-...