The ASX 200 shrugged off early losses to close 54 points higher at 8948 (0.6%), with the banks proving resilient yet again. CBA rose 1.5% and NAB gained 0.7%, taking the Big Bank Basket to $295.23 (+1.3%) Other financials also had a better day, with HUB up 1.8% and ASX rising 1.5%.
REITs also performed well, with GMG up 0.2% and SGP gaining 2.7%. Industrials were firm, led by a rebound in the tech sector, with XRO up 3.7%, WTC up 8.1% and TNE rising 3.3%. TLS had a good day, up 1.6%, while retailers also performed well, with JBH up 3.3% and WES gaining 2.1%. Healthcare was also in the pink, with CSL up 2.7% and RMD rising 3.4%.
It was a different story in resources, with BHP down 1.2% and RIO falling 2.5%. Gold stocks gave back some of yesterday's gains, with GMD down 1.1% and EVN easing 1.8%. Lithium stocks remained under pressure, with PLS down 4.9% and MIN falling 2.9%.
Oil and gas stocks enjoyed a better session, with WDS rallying 2.8% and STO up 1.2%, although coal stocks continued to drag. Uranium stocks were also back under pressure as part of the AI trade unwind, with PDN down 4.4% and DYL falling 2.2%.
In corporate news, DRO fell 13.2% after warning that margins would come under pressure. WEB surged 17.1% following plans to buy back up to $90m of its shares and a stronger forecast for first-half earnings. ILU had a good day despite warning that Balranald production would be lower than previously expected, while WHC eased 4.6% after finishing the year at the top end of production guidance.
In economic news, the ANZ-Roy Morgan Consumer Confidence Index fell 4.4 points last week to 71.2.
Asian markets were weaker, Nikkei 225 down 4.4%, HK down 0.1% and China down 2.8% - Korea down 10.4%. US futures mixed Dow up 4 Nasdaq down 290
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-listed ETFs with active market timing.
http://bit.ly/mt20-podcast
Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast
—
Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.
