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End of Day Report – Friday 17 April: ASX 200 down 8 - Down 13 for the week - Lithium and Tech up - Banks and Healthcare down.

Published 1 month ago
Description

The ASX 200 limped lower by 8 points to 8937 (0.1%) for a flat week. Banks continued to be weaker, NAB falling another 2.0% and WBC off 0.7%. The Big Bank Basket fell to $298.43 (-0.3%). Financials mixed, HUB rose 2.8% and PNI rose 3.8%. ZIP had a great day up 13.7%. REITs slipped slightly with CHC down 0.6% and GMG falling 0.5%. Healthcare under pressure still, RMD down 1.6% and CSL off 0.3% with SIG 2.2% better on broker research. Tech managed small gains, WTC up 2.9% and XRO rising 0.2% with REA better. Resources were mixed, BHP unchanged with RIO and FMG doing slightly better. Gold miners mixed despite bullion drifting higher. EVN down 2.0% and GGP off 1.5%. Lithium stocks soared, LTR up 6.3% and MIN rising 7.1%. Oil and gas eased, coal stocks fell and uranium firmed, PDN up 2.8% and BOE up another 4.6%.

In corporate news, ZIP soared 13.7% on better numbers on bad debts, PDN rose on production numbers and AAI fell % after results fell short of expectations. NEM also flagged no production issues following the earthquake this week.

Asian markets saw modest gains - Japan down 0.9%, HK down 1.3% and China off 0.3%. 10-year yields rise to 5.0%.

US Futures jump, Nasdaq down 38, Dow up 77. Europe is opening flat and quiet.

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