End of Day Report – Tuesday 16 September: ASX 200 up 25 in quiet trade | CSL acquisition

The ASX 200 rose 25 points in quiet trade to 8878 (0.3%) ahead of the Fed. Banks were mixed again, CBA down 0.3% and NAB and WBC up again. The Big Bank Basket flat at $284.23 (-0.1%). Wealth managers bounced slightly, MQG up 1.0% and NWL rising 1.5%. First day of trade for SOLDA the new look SOL/BKW entity. REITS slipped slightly, SCG down 0.5% and VCX off 0.8%. Industrials were mixed, retail better except SUL as its CEO was sacked, down 4.3%. CPU rallied 2.3% and REH rose 2.8%. Tech rose again, although WTC down 1.6% and XRO resumed the downtrend, off 0.6%. A long way down from the recent cap raise price. The All-Tech Index rose 0.7%. Resources remain the place to be. Iron ore miners rose, RIO up 1.9% with gold miners finding support, GMD up 0.7% and NEM up 0.9%. Lithium also in demand, MIN up 1.1% and LTR up 3.0%. Uranium stocks were roaring ahead, DYL up 9.2% and NXG rising 8.7%. PDN in a trading halt as it seeks to raise $300m in a placement and SPP. Oil stocks rose slightly in the second liners. Coal stocks also in demand, NHC rose 5.1% on good results, WHC up 1.9%.

In corporate news, CSL fell another 1.3% as it announced a potential acquisition, SIG rallied 0.3% on Richard Murray’s appointment as CFO.

Nothing on the economic front locally. 

Asian markets better, Japan hitting new records up 0.5%, China down 0.4% and HK unchanged.

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