End of Day Report – Friday 30 August: ASX 200 up 47 | APX, DOW, HVN, RHC results

Market Updates

ASX 200 finished the week up 47 points to 8092 (+0.6%). For the month we are unchanged! Coincident? Pushed at close too. Solid gains across the board, banks as usual heading higher, CBA up 0.5% and the Big Bank Basket hitting new records, up to $239.31 (+0.6). Insurers also did well as yields rose. QBE up 0.6% and SUN up 1.1% with SQ2 bounding 3.1% ahead. Industrials solid too, REH up 2.2% and SVW ahead by 1.4%. REITs better GMG up 0.9% and SCG up 0.9%. Supermarkets eased back, WES down 2.0%, and WOW and COL eased back. Retail took heart from economic data today, JBH up 1.7% and PMV rising 0.9%. Travel stocks fining some friends, WEB bouncing back 0.6% on some book squaring. Resources were slightly higher. BHP continues to bounce around $40 up 0.6% with FMG easing 1.6% on broker comments. Gold miners doing ok, nothing spectacular, NST up 1.7% and EVN up 1.0%. Lithium stocks a little less depressed, PLS up 2.1% and LTR up 3.5%, with MIN still struggling down 1.1%. Oil and gas better, WDS up 2.1% and uranium stocks bouncing slightly. In corporate news, HVN fell 6.4% on soft numbers; Gerry reckons PE will take him out. DOW knocked it out of the park on results up 17.0%, and RHC continues to suffer from cost pressures, down 6.8%. Brookfield dodged a bullet there. On the economic front, retail sales buoyed things and led to higher yields at 3.97%. Asian markets are showing some strength, Japan up 0.7% on CPI numbers, China up 1.3% and HK up 2.2%.
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