End of Day Report – 18 March 2022

FESCH.TV INFORMIERT:

The ASX 200 put on another 44 points to 7294 (+0.6%). Big jump on the 4.10 pm match out with banks turning positive as potential ASX Index rebalancing gave us a nudge, 3.2% for the week. Today was all about a resource bounce with BHP up 1.3%, RIO up 1.6% and FMG up 2.2%. Base metals up S32 better by 1.5%, Lithium and rare earths kicking higher too with LYC up 3.7% and LTR up 7.8%. Gold miners missed out as AUD pushing up towards 74c. NCM down 0.8% but some gains elsewhere with DEG up 1.2%. Energy stock better as crude prices rallied another 2% plus in Asia. STO up 1.9% and YAL up 3.9%. Banks flat with the Big Bank Basket up to $188.74 (+0.1%) though MQG up 1.7%. MFG kicked again up 2.5%.

Industrials steady, travel stocks down with FLT down 2.6%, WEB off 1.05% and QAN down 0.4%. Healthcare staged a late rally with CSL up 0.1%, SHL up 1.2% and RMD off 0.2%. Tech was in demand but maybe some caution ahead of the weekend. WTC up 3.3%, SQ2 up 7.2% and Z1P up 1.6%.

Nothing really on the corporate front, except SGR falling 3.6% on the inquiry into its casino licence in Sydney. Nothing much on economic data either. Asia gave back some gains with HK down 2.4% China down 0.2% and Japan up 0.4%. 10-year yields pushing higher to 2.56%.

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