End of Day Report – Wednesday 2 April: Quiet trade ahead of Liberation Day

The ASX 200 pushed 9 points higher to 7934 (0.1%) in defensive quiet trade ahead of Liberation Day.  Money flowed into banks and REITs with resources under pressure on global growth fears. BHP gave back 1.5% with RIO off 1.7% and FMG down 1.6%. Lithium stocks poleaxed again, PLS down 3.1% and LTR falling 4.3%. Gold miners too under pressure as AUD rallied and bullion steady, profit taking in NEM down 2.1% and RMS off 3.8% with VAU down 3.3%. Uranium remains in fallout mode with PDN down 3.3% and BOE down 3.4% with nearly 25% of the company shorted now. Coal stocks fell and oil and gas slid, WDS down 1.5% and STO off 0.4%. Meanwhile banks firmed again, the Big Bank Basket up to $250.98 (1%). CBA up 1.0% and other financials also doing well, NWL up 1.9% and MPL rising 2.2%. REITs also in demand, GMG up 3.1% and CHC up 3.2%. TLS continues to creep higher up another 1.2% with retail better too. JBH up 1.5% and MYR rising 0.8%. Even DMP rose 2.5%. Tech better as WTC continued to find friends up 1.1%. CPU dropped again down 4.1%. QAN off 2.5%. In corporate news, new CEO at KLS set to shake things up by trying to sell tourism assets, RPL wrote down its OPT to zero! SGR has failed to secure a $750m lifeline from Salter Brothers and WBC has a new chief people officer. Nothing on the economic front. Asian markets in wait and see mode. 10-year yields steady at 4.41%. 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.