End of Day Report – Friday 10 October: ASX 200 drops 12 points | Gold miners hit, rare earths down

The ASX 200 fell 12 points to 8959 (0.1%) in quiet trade again ahead of the US reporting season. Down 29 points for the week. Banks were firm as CBA rose 0.6% and NAB up 0.6% with ANZ being in trouble for its culture again. The Big Bank Basket rose to $286.43 (0.5%). MQG lost 0.8% on a GS downgrade. L1G continued to fly following its FUM and merger with PTM. NWL rose 5.3% as a broker upgraded. ZIP ran 2.1% and PNI rose 3.5%. REITs steady, industrials were better, QAN up 1.9% and JBH rising 2.3% with some tech stocks rallying, TNE up 2.4% and XRO finding some support rising 1.2%. The All-Tech Index up 1.3%. TLS continued to push higher. Resources were under pressure with BHP down 2.1% and RIO off 1.7%. Gold miners suffered as bullion dropped back below $4000. NST down2.1 % and NEM off 2.9%. Most gold miners rallied off earlier lows. Rare earths also came in for some profit taking as its Friday. LYC down 3.8% and ILU off 3.2%. Lithium stocks slipped too. No good news in oil and gas either, WDS down 1.2%. Uranium stocks mixed, DYL up 2.5% and PDN off 1.6%.In corporate news, MIN saw a new NED, DGT gained 1.3% on the CEO stepping down. MAC to be delisted following the Harmony Gold takeover. In economic news, Michele Bullock appeared before a Senate Committee. Asian markets ease, Japan down 1.2%, China down 1.4% and HK down 1.1%. 10-year yields up to 4.36%Want to invest with Marcus Today? The Managed Strategy Portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you. If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.  Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.