End of Day Report – Tuesday 30 September: ASX falls 14 points | RBA keeps rates on hold

The ASX 200 gave up early gains to close down 14 points at 8849 (0.2%). Banks eased back with CBA down % and ANZ falling % as the Big Bank Basket dropped to $283.23 (-0.6%). Insurers gave back yesterday’s gains. QBE down 0.7% and SUN off 0.8%. Other financials also eased slightly. REITS rose, GMG though fell 0.8%. In the industrials, TLS dropped another 1.4% and tech was mixed, WTC down another 3.0%. XRO finally finding some friends. Up 0.1%. Healthcare mixed as CSL flat after CFO retired. In resources, copper and gold continue to dominate, BHP and RIO had good days up 1.5% and 0.6% respectively. Gold once again shone bright, NST up 1.2% and EVN rising %. NEM is in for a C-Suite change and fell 2.3%. Base metal and copper stocks doing well again. Oil and gas falling hard on crude prices, WDS down 1.7% and STO off 2.5%. Nothing much happening in uranium stocks. In corporate news, SWM and SXL are set to merge. RBD up 59.3% on a takeover approach. And SGR rose 1.1% after it finalised a deal with its lenders.On the economic front, the RBA left rates unchanged. Bullock said ‘we’re close’ to getting economy back in balance. But we need to be cautious about inflation. Chinese PMI came in below forecasts. Asian markets mixed, China up 0.3%, HK up 0.3% - Japan down 0.2% on PM uncertainty.10-year yields steady at 4.34%.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.