End of Day Report – Tuesday 13 May: ASX 200 rallies 36 points | Gold miners hit, banks ease

The ASX 200 rose 36 points to 8269 (0.4%). 11-week high. Disappointing in some respects as defensive stocks saw sellers move to more leverage assets. Banks slipped with ANZ Ex-dividend, the Big Bank Basket down to $261.90 (-0.5%). MQG pushed another 3.7% ahead, with other financials doing well. HMC is up 3.7%, and RPL is rallying 5.7%. ZIP was the standout, up 8.8%, with XYZ bouncing 5.9%. REITs sold off as rates moved higher, 10-year yields up to 4.43%. Defensive industrials fell, COL and WOW went down hard, TCL fell 2.2%, and TLS dropped 2.6%. Tech did well but off highs. WTC is up 4.9% and XRO modestly higher, up 1.7%, with the All-Tech Index up 3.1%. In resources, iron ore drifted back a little, BHP up 2.1% and FMG up 2.7% with base metal stocks also in demand, MIN up 9.8% and LTR up another 3.5%. S32 had a great day up 5.6%. Gold miners were sold off on bullion weakness. NST was down 4.6%, with NEM down only 1.8% as EVN fell 5.3%. LYC dropped 3.8%on rare earth supply from China resuming. Oil and gas stocks are better, WDS up 3.7%, and STO rallying another 2.9%. Uranium stocks paused. Coal was a happy place, WHC up 3.2%. In corporate news, RIC successfully raised $125m to buy DNL’s fertilizer distribution business. PNV is doing well on diabetes trials, and ALD rose 2.2% as it sold an NZ business. ASK rejected a takeover offer from Ki. On the economic front, consumer sentiment lifted on election results. Asian markets mixed, Japan up 1.7% with China flat and HK sliding back 1.5%.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.