End of Day Report – Thursday 31 October: Pre-election nerves creep in
Description
ASX 200 closes down 20 points to 8160 (-0.3%) as some pre-election nerves creeping in. Banks were steady as results loom, NAB the standout up 0.9% with the Big Bank Basket at $244.82 (). Other financials drifted lower, ASX down 1.1% and SQ2 off 0.1%. REITs mixed, SGP up 0.2% and CHC off 0.4%. Industrials under a little pressure, COL down 0.6% on its trading update, WOW continues to struggle, off 2.8%. TLS fell 0.3% with QAN off 0.6% and TWE down 2.0%. Tech mixed, WTC continued to bounce up 2.5%. Retail bounced nicely on a JBH update, moving 5.3% higher. PMV gained 1.4% and LOV up 0.7%. Resources were weaker again, BHP and RIO down around 1% with FMG unchanged. Gold miners were mixed despite bullion price rises. Quarterlies in focus. Lithium slipped with PLS down 1.0% on broker research following results yesterday. Uranium stocks slightly better, PDN up 3.6% and BOE up 1.2%. In corporate news, MIN jumped 9.2% on news it had sold its oil and gas assets to Gina Rinehart. ORG up 1.4% on a dip in overall production. AGL fell 6.0% on a Barrenjoey report. BUB reaffirmed FY earnings forecast. In economic news, retail sales flat. but building approvals beat estimates. Asian markets mixed again, Japan down 0.9%, HK up 0.5%, China up 0.2%. 10-year yields higher again, 4.51%.
Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence.
Ready to invest in yourself? Join the Marcus Today community.
United States
