End of Day Report – Thursday 4 April: Small Recovery | Resources in Focus

Market Updates

ASX 200 rose 35 points to 7817 (0.5%) in quiet trade. Banks and industrials are making gains after the drubbing yesterday, The Big Bank Basket up to $207.93 (0.4%). MQG did ok, and insurers mixed, with SUN up 0.2% and QBE slipping slightly. REITs are back in demand, led as always by GMG, up 0.5% and SCG rebounding 0.6%. Tech had a good bounce as WTC rose 2.5% and XRO slightly better with the All-Tech Index up 1.0%. Industrials uninspiring with a mixed showing in healthcare, COH up 1.1% and RMD down 0.4%. Resources were better with the exception of iron ore stocks. FMG down 1.0% the worst, Lithium stocks rebounded hard, PLS up 1.3% and S32 doing very well up 4.6% with AWC continuing to climb as Alcoa in the US climbs higher. Gold miners also doing nicely, NST up 0.8% and EVN rising 1.1%. DEG having a nice time of it up 2.8%. Oil stock generally better, as were coal and uranium. On the corporate front, not much to write home about. Economic data was confined to disappointing building approvals, lowest since3 2013 and household spending which rose. Asian market subdued as China and HK closed. Japan continuing its run up 1.7%. 10-year yields up to 4.17%.
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