End of Day Report – Thursday 10 October: ASX up 37 points | Resource rally

Market Updates

ASX 200 rose 36 points to 8223 (+0.4%), well off the early highs despite a rally in resources with Asian markets back in the green. BHP up 1.4%, RIO up 1.4% and FMG rallying hard up 4.0%. Lithium stocks in demand following the LTM bid, up 38.8%, PLS up 2.5% and MIN bouncing 6.8%. Gold miners slightly better in places, DEG up 1.1% and BGL up 6.3%. Oil and gas better too, WDS bouncing 0.7% and uranium stocks firmed. Banks were mixed but flat with the Big Bank Basket $234.70 (+0.2%). MQG rallied 0.8% and insurers were slightly higher, QBE up 2.5%. REITs are mainly positive, and industries are flat. Retails eased slightly, JBH down 0.5% and PMV off 0.4%. DMP continue to push higher, up 2.3%. Tech stagnant, and the All-Tech Index up slightly. In corporate news, LTM rose 38.8% on the RIO bid. GYG rose slightly on a trading update. PRN signed an extension with IGO and STO secured US$800m of loans for Darwin upgrade. NWL up 3.8% on a FUM update. Nothing on the economic front. Asian markets turned positive with iron ore, Japan up 0.3%, China up 3.0% and HK up 4.2% awaiting MoF briefing Saturday. 10Y yields higher at 4.22%. Dow Futures up 13 points. NASDAQ Futures down 6 points.
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