End of Day Report – Thursday 19 September: ASX 200 hits new record, up 0.6%

Market Updates

ASX 200 closed up 50 points to a new record high of 8192 (+0.6%) on SPI expiry day. Some wobbles post job numbers were quashed by buyers stepping back in for banks and now resources too. The Big Bank Basket hit fresh highs of $248.39 (+0.5%). CBA up 0.5% and ANZ playing some catch-up, rising 1.1%. MQG rose 1.0% with other financials doing alright. SOL up 1.0% and ZIP up 9.2% on cheaper money and happier customers. REITs also bounced, GMG up 1.5% and SCG up 2.4% with healthcare under some pressure still. RMD fell 2.5% on a US broker downgrade citing GLP-1 threats. COH down 1.5% and SHL drifting 1.3% lower. Industrials were mixed, TCL down 1.9%, BXB fell 0.7% and WES off 0.7%. Tech mixed with the All-Tech Index unchanged. Resources joined the party today. Morgan Stanley upgraded the 'Three Amigos', all rose with RIO up 3.5% and BHP up 2.6%. Lithium shares also in demand, PLS up 2.1% and MIN up 1.9% with uranium stocks in focus, DYL up 6.1% and PDN rallying 8.1%. Gold miners were mixed, coal stocks better again, WHC up 1.2% and NHC 2.2% higher. In corporate news, ALQ fell 8.6% on a trading update, MND rose 2.0% on a new $230m contract, SGM rose 12.4% on a trading update, and ORI blasted ahead 1.3% after upgrading expectations. Asian markets firmed on Fed news, Japan up 2.0%, China up 0.5% and HK up 1.9%. 10Y yields rose to 3.93%. European markets bouncing back. FTSE showing up 0.8%.
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