End of Day Report – Tuesday 19th August ASX 200 drops 63 - CSL down nearly 17% on guidance and restructure.

The ASX 200 dropped 63 points to close at 8896 (0.7%). CSL falling 16.9% on restructure and disappointing guidance, responsible for most of the loss. Banks edged higher post results, CBA up 0.5% and NAB gaining some broker love, up 0.8% with the Big Bank Basket up to $281.67 (+0.6%). Insurers sold off again, QBE down 1.2% and SUN off 2.1% with other financials flat, CGF doing well up 2.6%. REITs firmed with DGT up 0.4%. Industrials mixed, retail firmed, JBH back up 2.3% with CTD up 0.9%. ARB results today and the market liked them rising 8.6%. QAN dropped 1.2% after the record fine yesterday, TPG fell 2.3% after a cyber incident, tech was mixed, XRO recovered slightly up 1.7% and WTC slid 0.7%. The All -Tech Index up %.In resources, BHP numbers were solid, the dividend beat forecasts, up 1.6% and some renewed interest in rare earths, LYC up 2.2% and ILU putting on another 1.9%. Gold miners drifted lower and BSL results failed to impress off 1.9%. SGM was another casualty on results falling 5.7% on Chinese scrap issues. Oil and gas stocks fell, STO revealed that DD had failed to come up with a definitive offer, WDS dropped 2.8% on its results and uranium stocks flat.In other corporate news, JDO rose 0.3% on better numbers led by cost cutting. RWC fell 6.7% despite a 13.5% rise in FY net profits. SEK jumped 8.0% after an increase in revenue beating expectations.On the economic front, Australian consumer sentiment jumped 5.7% in August to 98.5, the highest level since February 2022, according to the Westpac-Melbourne Institute survey. Asian markets mixed, Japan down 0.2%, HK up 0.1% and China unchanged. 10-year yields better at 4.32%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.