End of Day – Mon 4 Apr

Marcus Today Market Updates

• The ASX 200 kicked off the week in style rising 20 points to 7514 (0.3%). Off highs at close. Miners and material stocks led the way higher with BHP up 0.1%, FMG up 3.0% and lithium stocks in strong demand again. SYA up 32.0%, LTR up 9.0% and PLS up 5.5%. Gold stocks too slightly better despite falls in bullion, NCM up 0.9% and DEG up 6.9%. Energy stocks slightly firmer, STO up 0.3% and WPL better by 1.0%. Healthcare better with CSL leading the charge up 0.5% with RMD up 0.8%. Industrials uninspiring ALL down 3.0%, MGR up 2.8%, REA up 1.3% and tech firmer. XRO up 2.3% and WTC rallying 1.2%. The All-Tech Index up 0.9%. Banks eased back with the Big Bank Basket back to $186.82, MFG gained 9.7% on hopes for industry consolidation. Insurers unchanged.
• In corporate news, DGO up 15.3%, saw a bid from GOR with an all-share deal and PPT lobbed a bid for PDL up 18.1%, worth around $2.4bn. 1 for 7.5 PDL plus 167c in cash. On the economic front ANZ job ads for March up 0.4% and MI Inflation gauge for March up 0.8% in the month to be up 4.0% in annual terms. Asian market quiets as China has a holiday until Wednesday. Japan flat with HK up 1.5%. 10-year yields better at 2.84%.

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