End of Day Report – Thursday 18 April: Jobs Data Fails to Move the Dial
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ASX 200 rose 37 points to 7639 (+0.5%) off highs but bounces off 7600. Jobs data fails to stir. Good news for Iron ore miners with BHP production numbers and higher ore prices in Asia saw BHP up 1.5%, RIO up 1.7% and FMG lagging. Base metals finding friends again, MIN up 1.9% and PLS up 2.1%, with S32 modestly better, up 1.3%. Gold miners slightly mixed, EVN off 3.9% on broker downgrades after big rally. NST up 0.4% and NEM up 1.3%. Oil and gas stocks eased, WDS down another 0.4%. STO off 0.9% on production numbers. Banks were back in vogue, CBA up 0.7% and NAB up 0.9%, with the Big Bank Basket at $200.47 (0.7%). Insurers mixed, MQG up 1.2%. Healthcare remains under pressure, CSL is down again, and RMD trashed 4.3% on new drug trials from Ely Lilly on an alternative to sleep disorders. Industrials firmed slightly, and QAN had a good day, up 3.4%. Solly Lew has crept up the register in MYR to 31%. In corporate news, DRO conducted its own drone strike to raise $75m after big surge yesterday. MRM provided a good update, BSL fell 2.4% on US steel tariff changes, and CGF did well up 5.3% after raising guidance. On the economic front, we had an inline jobs numbers coming in at 3.8% unemployment. Nothing to see here, ANZ says first rate cut in November. Asian markets firmed, Japan up 0.5%, HK up 1.2% and China up 0.5%. 10-year yields at 4.29%. Dow Futures up 91 points. NASDAQ Futures up 88 points.   Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence. Ready to invest in yourself? Join the Marcus Today community.
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