End of Day Report – Friday 23 May: ASX 200 up 12 | Banks better, gold eases

The ASX 200 limped 12 points higher to 8361 (+0.2%) ahead of a long weekend in the US. For the week, we are up 17 points. Banks once again firm, CBA up another 0.7% with the Big Bank Basket up to $271.95 (+0.6%). ANZ outperforming. Insurers rose slightly, and financial services better, with XYZ up 5.5% and GQG bouncing 2.4%. REITs were firm, GMG up 2.2% and SGP rising 0.2% as 10-year yields steadied to 4.45%. Healthcare is flat, tech stocks are slightly better, XRO is up 0.7%, and the Index is up 0.9%. ‘Old Skool’ platforms are doing ok, REA up 0.5% and CAR up 1.3%. TLS continues to push ahead. Retail better, JBH up 1.6% and MYR up 5.4% following a sales update. Utilities are under a little pressure on an ORG downgrade, off 1.1%. Resources were mainly weaker; iron ore stocks eased back, FMG was down 2.4%, with gold miners drifting slightly lower. Uranium stocks are on fire as Reuters reported that Trump will sign an order to benefit the uranium and nuclear industry. BOE up 12.1%, PDN up 6.7% and SLX up a huge 15.3%. Oil and gas are moving a smidge higher.In corporate news, BEN results out this morning, up 0.8%, and NUF continued to fall as one broker lost faith in the stock. Nothing locally on the economic front, Japanese CPI picked up more than anticipated, 3.5% excluding fresh food. Asian markets firmed, Japan up 0.6%, and HK up 0.3%. Dow futures flat, Nasdaq futures down 0.3%.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.