End of Day Report – Friday 16 August: ASX 200 up 106 points | ASX, GQG, NAB results

Market Updates

ASX 200 roars 106 points ahead to 7971 (1,.3%) up 2.5% for the week, to finish 30 points above where we were two Fridays ago. Results and reactions the focal point with US strength helping all sectors. NAB with 3Q trading update helped the sector, CBA up 2.,4% and the Big Bank Basket up to $233.86 (2.0%). Insurers also in demand with QBE and SUN up 1%. ASX unchanged on its results, MQG rose 0.6%. REITs were mixed, GMG seeing some profit taking down 1.1% and SGP up 2.0%. Industrials firm. TLS rose slightly on broker comments, AMC slipped 2.8% on its numbers, BXB up 1.5% and REH doing ok. Tech slightly better, WTC up 0.7% and REA adding another 2.5%. In resources, we saw a bounce back despite Iron ore slipping in Singapore again. BHP up 2.0%, and RIO bouncing 1.6%, with FMG seeing some Friday book squaring up 3.1%. Lithium plays were better on hope more than anything, PLS up 5.8% and LTR up 1.3%. Gold miners slightly firmer, DEG up 1.7% and EVN up 3.3%. Energy stocks firmed, WDS up 2.4% and uranium stocks glowing, BOE up 5.5% and DYL up 5.5%. On the corporate scene, results from GQG and DHG saw small losses. On the economic front, RBA chief Bullock was in Canberra talking tough on interest rates. Two-speed economy. Borrowers are struggling debt-free spending. Asian markets firmed, Japan up 8% this week! Up 3.0% today alone. HK up 2.1%, and China unchanged. 10-year yields 3.94%. Dow Futures up 89 points. NASDAQ Futures up 79 points.
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