End of Day Report – Friday 23 August: ASX 200 flat | Results in focus - AX1, ING, JIN

ASX 200 limped into the Jerome show losing 3 points to 8024. Kamala Harris in ‘da house’ too. Up 0.8% for the week. Resources gave back some of the week’s gains, BHP down 0.7%, FMG off 2.0%, with lithium and rare earths under pressure again although modest by recent moves. Gold miners slipped as bullion fell, NST down 0.3%, and EVN off 0.7%. Oil and gas eased yet again, WDS down 0.5% and STO off 0.9%. Coal stocks also down, with WHC reversing some of the gains of yesterday, crashing 7.2%. Nothing good happening in uranium either. PDN down 2.9%. Banks were a little rattled by the APRA announcement on ANZ with the bank falling 2.2%. CBA steady, and the Big Bank Basket fell to $233.06 (0.1%). Insurers better, SUN up 1.0%, MPL up 2.9% and MQG pushing 0.8% higher. REITs mixed, GMG up 0.9% and VCX off 3.2%. Healthcare better, COH saw investors listening up 0.8% and FPH on a guidance update rising 11.9%. Industrials a little mixed, but results the focus. Tech saw some losses, WTC gave some back and the All-Tech Index fell 0.1%. Retail remains a good place to be despite AX1 falling 15.3% on disappointing results. In results today, we had some serious shockers, ING dropped % on the outlook statement. JIN down 16.1% on some weaker guidance, AX1 fell 15.3%, and IPH resumed trade after a placement and acquisition rising 6.6%. On the economic front, Japanese CPI came is as expected. Nothing really to see here. BoJ governor out and about. Jackson Hole tonight. Data dependent. Plenty of Fed heads already spoke anyway. Asian markets showing modest moves, Japan up 0.5%, HK down 0.4% and China down 0.1%. 10Y yields 3.92%. Dow Futures up 97 points. NASDAQ Futures up 108 points.

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