End of Day Report – Thursday 5 February: ASX falls 39 points | Resources stumble, banks steady

ASX 200 fell 39 points to 8889 (0.4%) as resources came under pressure again. One day up, one day down.  Silver tumbled 15% in Asian trade and dragged gold lower, miners responded with NST down 4.6% and EVN off 3.2%. The big miners eased back, BHP down 3.9% and RIO down 1.4%. Rare earth companies fell, LYC down 7.9% and lithium depressed too, PLS down 3.7% and IGO off 3.2%. Uranium shares were beaten up as the market took AMD forecast as a sign that power requirement would slow. PDN down 9.0% and LOT in a trading halt for a capital raise. Oil and gas stocks eased as tensions with Iran cooled. STO down 0.7% and BPT with its results off 4.4%.Banks were firm, as CBA wrestled the #1 spot back off BHP, up 1.4%. The Big Bank Basket up to $280.82 (%). Insurers are also in demand, higher rates perhaps, QBE up 2.1% and SUN rising 1.7%. Industrials firmed, WES up 2.1% and a bounce in REA up 2.6% with the tech index showing some signs of stability. WTC still down 2.6% with XRO finding some friends, up 1.6%. The All –Tech Index rose 0.1%. Healthcare better as RMD breathed easy and rose 4.9%.In corporate news, ELD has announced its succession plan, it fell 4.1% on the news. NEU fell 9.8% on FDA news in the US, RPL rose 5.1% as it announced a buyback.Asian markets eased, Japan down 1.1%, China up 1.0% and HK down 1.3%US Futures mixed Nasdaq up 20, Dow down 6810-year yields steady at 4.85%Want to invest with Marcus Today? Our MT20 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.