End of Day Report – Friday 22 August: ASX 200 drops 52 | Results disappoint

The ASX 200 back below 9000 to 8967, down 52 points (0.6%) as results weighed after a long week. Banks remained firm with WBC up 0.7% and NAB slightly firmer, the Big Bank Basket drifting to $288.16 (-0.2%). Other financials also drifted lower, GQG fell 3.0% after early gains. Insurers firmed, ASX fell 2.1%, and ZIP soared 20.2% on better results. REITs were under pressure as GMG fell 4.8% on broker comments, SGP and CHC both better. Industrials slid, BXB saw some profit-taking, QAN dropped 2.1%, and ALL off 1.7%.Retail stocks also eased back, PMV down 4.0% and JBH falling 1.6%. GYG collapsed 18.2% after the results and a trading update. CTD in a trading halt awaiting some material news. Tech stocks eased back too, WTC down 1.8% and XRO continuing to fade. Down 0.6%. The All-Tech Index up 0.2%. WOW and COL under pressure. CSL resumed the downward momentum, off 4.2% as TLX trundled higher.In resources, BHP slightly lower, RIO fell 1.1%, and gold miners were mixed. WAF up 3.3% and VAU up again post results. Lithium stocks fell, PLS down 4.5% and MIN off 3.2%. Uranium stocks better, PDN up 4.3% and DYL rising 3.8%. Oil and gas firmed, coal stocks eased.In corporate news, ING dropped 20.3% as Woolies contract took its toll, HLS rallied 18.6% after results, AX1 dived 17.8% on disappointing sales growth, MVF fell 13.7% on disappointing profits and outlook.Nothing much on the economic front.Asian markets mixed again, Japan flat, China up 1.7% and HK up 0.5%European markets opening flat. US Dow futures down 18 Nasdaq down 32.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.