End of Day Report – Tuesday 16 April: Nice Day for a Red Wedding

Marcus Today Market Updates

ASX 200 falls hard by 140 points to 7613 (-1.8%) on Middle East tensions, US sell-off and Chinese data. Banks got sliced and diced, with CBA down 2.1% and the Big Bank Basket down to $199.47 (2.1%). MQG off 1.2%, and Insurers falling despite yields rising. REITs came under renewed pressure, with GMG down 2.0% and MGR off 3.6%. Healthcare fell too in defensives. CSL down 1.4% and COH off 1.1%. Industrials sold off across the board with tech hit hard, WTC down 0.4% and XRO off 1.6%, with the All-Tech Index off 1.6%. Supermarkets enjoyed a day in the red with a senate grilling on the menu with WOW off 1.2% with the CEO unable to say what ROE was. WES down 2.3% with TCL falling 1.4% and retailers finding willing sellers. PMV down 1.8%, APE off 1.5%, and JBH falling 2.9%. In resources, despite a falling AUD and rising commodity prices, iron ore stocks were under pressure BHP down 1.8% and RIO giving back all its gains from yesterday down 2.9%. FMG off 2.8%. S32 fell 4.7%, and MIN off 2.7%. Even gold miners enjoying a record bullion price fell again, NST down 0.6% and EVN down 1.5%. Lithium stocks eased, uranium fell too, PDN down 6.3%. Despite oil heading higher on Israel concerns, WDS fell yet again down 1.3%. In corporate news, DCG got a 30c bid from MAH. MAQ is in a trading halt pending a placement and strategic land acquisition. ZIP fell 11.0% on 3Q numbers. In economic news, Chinese data was the focus as GDP rose more than expected, but will it last. Asian market smacked, Japan off 2.0%, HK down 1.7%, and China falling 0.7%.10Y yields marching higher to 4.31% on safe-haven allure perhaps. Dow Futures 47 points. NASDAQ Futures down 19 points.
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