End of Day Report – Tuesday 18 February: ASX 200 falls 56 | RBA cuts, yields rise, banks stumble

ASX 200 fell another 56 points to 8480 (0.7%) despite the RBA cutting rates as expected. Banks falling again today, WBC off 3.0% after broker downgrades. CBA off 1.4% and NAB also hit hard with the Big Bank Basket at $265.03 (-1.8%). Financials were mixed, CGF fell 9.0% on disappointing numbers, HUB rose 3.7% on better-than-expected results. HMC had a cracker on its numbers up 9.9% with MQG falling 0.9%. Insurers found a few friends. REITs slipped as bond yields remained at 4.45%. GMG rose 2.1%. Industrials eased back, retailers suffering a little with JBH down 3.5% and WES off 1.4%. Supermarkets slipped slightly, travel stocks fell, and healthcare falling with SIG down 5.5%. CSL bucked the trend and gained 2.1%. Resources were mixed, BHP results didn’t do much either way, RIO off 0.2% and lithium stocks fell hard, MIN off 6.1% and PLS falling 5.4%. Gold miners eased but relatively stable, NEM up 0.5% and GOR up 0.4% with NST down 1.9%. Energy stocks on the nose, WDS falling 1.5% on concerns on dividends, WHC fell 5.0% and uranium stocks off again, PDN down 4.0%. In corporate news, SEK stabilised after lifting its dividend, DRR fell 2.6% after net profit slipped, AZJ rose 0.6% on plans to consider breaking up the business. On the economic front, RBA was the go and no surprise. No reaction either! Asian markets improved, Japan up 0.7% and HK ripping higher again, up 2% and China up 0.4%. 10-year yields at 4.50%.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.