End of Day Report – Thursday 20 February: ASX 200 drops 96 | Banks fall, GMG back and down 5%

Another nasty day as the ASX 200 fell 96 points to 8323 (1.2%) as results and bank falls dominated. WBC fell another % and ANZ joined in too falling 3.1% with the Big Bank Basket down to $251.27 (-2.4%). MQG dropped 1.0% with financial sunder a little pressure. REITs fell as GMG returned to trade down 5.0% after the $4bn capital raise. Industrials were mixed, ALL dropped 4.3% despite a new buy back, WES rose 1.3% on good results, TLS also did well, up 5.6% after announcing a buy back. Retail stocks suffered, JBH down 4.2% and BRG falling 3.0%. CTD continued the positive vibes from the results up 4.7%. UNI did very well on results up 9.7%. In healthcare, PME dropped 3.7% and CSL down 2.3%. Resources suffered as RIO cut its dividend, falling 1.5% and BHP fell 2.0% as FMG were savaged on results, down 6.2%. Lithium stock surprisingly rose after PLS results, up 6.0% and oil and gas stocks rose, WDS up 1.0% and STO rising 2.1%. Coal stocks gained 8.9% on WHC results. Uranium stocks were mildly lower. In corporate news, MAF rose 8.7% on good numbers, WTC in a trading halt on governance issues. MP1 had stellar gains on beating expectations. Casualties included, SUL, MFG, and MGH. On the economic front, jobs data came in as expected at 4.1% unemployment and record participation. Asian markets fell, Japan under pressure on proposed car tariffs. Down 1.5%, HK off 1.4% and China down 0.4%. 10-year yields steady at 4.53%. 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.