End of Day Report – Monday 5 May: ASX 200 down 80 | WBC results hurt bank sentiment

The ASX 200 started the week giving back 80 points to 8158 (1%) as the bank rally faded post WBC results. Slightly underwhelming and lack of growth to blame. WBC fell 3.0% taking CBA down 1.6% and the Big Bank Basket down to $265.29 (1.7%). MQG followed the other lower down 1.8% ahead of numbers Friday. Other financials gave up early gains, with RPL and XYZ, two of the only winners. REITs also slipped led by GMG down 2.2% and MGR off 0.9% with industrials also weaker. Retail sagged, PMV down 3.4% and APE off 3.1% with MYR down 3.5%. Defensives such as TLS slid 1.1% and REA down 1.8%. Resources held up better with BHP down only 0.9% and RIO off 0.9% despite rising Iron ore prices in Singapore. Gold miners were mixed, GOR jumped 9.4% on the takeover by Goldfields, NST up 0.4% and EVN up 2.1% with BGL rallying 2.2%. Lithium stocks were flat, LYC up 1.8% and oil and gas stocks crumbling in the face of oils fall. WDS down 3.6% and STO off 4.0%. Uranium stocks mixed, NXG down 4.6% and BOE up 0.8%. In corporate news, TYR pulled out of SMP talks, PLY dumped after CEO retires wounded. RWC warned on tariffs and fell 2.4% with EDV forecasting flat to modest retail sales growth. Nothing on the economic front. In Asia, China and Japan closed for a holiday. 10-year yields pushing higher to 4.26%.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.