End of Day Report – Monday 15 July: ASX hits 8000 in Broad Based Rally. Banks Continue to Lead Charge

The ASX 200 pushed another 58 points higher to 8018 (0.7%) in a broad-based rally. Well off the intraday high though on some cooling as we await reactions to Trump and US reports this week. Banks were firm but off highs, CBA up 0.8% and NAB up 0.8% with the Big Bank Basket up to $227.88(0.8%). Other financials doing well too, ASX up another 1.2% with NWL up 1.7%. MQG pushed 0.5% ahead with insurers mixed. REITs were better with the exception of GMG falling 0.4% with SCG up 0.6%. Healthcare slightly better RMD up 2.0% and COH up 2.4%. Industrials firmed, WES putting on another 2.1% with retail stocks again finding buyers SUL up 1.3%, PMV up 1.9% and FLT up 2.8%. Tech in demand, WTC up 2.5% and XRO up 1.4%. In resources, BHP rose 0.6% with FMG double that gain. Gold miners were mixed as bullion consolidated, lithium still a little depressed and struggling for direction. Oil and gas better led by WDS up 1.3% and STO up 0.7%. In corporate news, LIC fell 18.1% on ABC media reports of issues. ABB dropped 14.0% as it launched a new cut-price NBN service, Buddy. Nothing locally on the economic front, in China, GDP data and retail sales numbers were disappointing again. Asian markets mixed, HK down 1.4%, Japan closed for a holiday, and China slightly higher. 10-year yields firmed 1bps to 4.33%.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence. Ready to invest in yourself? Join the Marcus Today community.