Evening Wrap: ASX 200 flat, tech stocks extend gains, CSL dumps 5% as CEO jumps ship
The S&P/ASX 200 closed 2.7 points lower, down -0.03%.
The ASX 200 eased after Monday’s relief rally, fading off the highs. Attention now turns to a heavier flow of company earnings later this week.
Information Technology (XIJ) (+2.1%) rebounded as beaten down software and data centre names attracted fresh demand, led by WiseTech Global (WTC) (+2.6%) and NextDC (NXT) (+3.3%).
Health Care (XHJ) (-1.7%) was the main drag, after CSL (-4.9%) tumbled on announcement of CEO Paul McKenzie's retirement. Financials (XFJ) (-1.0%) lagged behind, also, as banks eased and insurers were hit over AI fears. Steadfast Group (SDF) (-9.4%) and AUB Group (-6.1%) were the key drags.
In stock specific news, Macquarie Group (MQG) (-0.3%) firmed after a strong December quarter update and a better near-term outlook for its Commodities and Global Markets unit.
Treasury Wine Estates (TWE) (+3.4%) jumped after settling its US distributor dispute and upgrading first-half earnings guidance. G8 Education (GEM) (-20.6%) slumped after flagging a $350m impairment and cancelling its buyback and final dividend.
Spot silver eased about 2%, but silver stocks still pushed higher, led by Investigator Resources (IVR) (+8.7%) and Silver Mines (SVL) (+4.3%).
Uranium edged 2% higher, but local uranium stocks generally fared much better, with Paladin Energy (PDN) up +5.4% (after dropping -18% in the last two sessions!).
Be sure to click/scroll through for the usual reporting of the major sector and stock-specific moves, the broker responses to them, as well as all the key economic data in tonight's Evening Wrap.
Also, I have detailed technical analysis on the Nasdaq Composite and the S&P/ASX 200 in today's ChartWatch.
Let's dive in!
Today in Review
Tue 10 Feb 26, 5:30pm (AEST)
Name
Value
% Chg
Major Indices
ASX 200 8,886.9
+0.19%
All Ords 9,157.6
+0.29%
Small Ords 3,743.2
+1.20%
All Tech 2,958.0
+2.22%
Emerging Companies 3,170.4
+1.69%
Currency
AUD/USD 0.7065
-0.41%
US Futures
S&P 500 6,979.25
-0.06%
Dow Jones 50,205.0
-0.03%
Nasdaq 25,317.75
-0.14%
Name
Value
% Chg
Sector
Information Technology 1,822.1
+2.14%
Health Care 34,293.0
+1.35%
Consumer Discretionary 4,004.6
+0.89%
Materials 23,161.3
+0.86%
Industrials 8,407.7
+0.79%
Communication Services 1,669.6
+0.68%
Energy 9,322.6
+0.65%
Real Estate 3,817.8
+0.38%
Consumer Staples 11,932.9
+0.19%
Utilities 9,297.6
-0.83%
Financials 9,322.1
-1.06%
Markets
The S&P/ASX 200 (XJO) finished 2.7 points lower at 8,867.4, 0% from its session low and 0.66% from its session high. In the broader-based S&P/ASX 300 (XKO), advancers beat decliners by a 174 to 101.
Fund flows: Old or bold?
Of the 500-odd of you who responded to yesterday's quiz, roughly three-quarters took the easy way out, and like me, confessed that they have “no bloody idea” where the ASX 200, aka the Old Tin Pot, is headed next. Of the rest, you were perfectly evenly split between the OTP being substantially higher or lower over the next few weeks. ⚖️
So, 75% of us have no idea, and of the other 25%, let’s just say… net-net… they have no idea either!
I would love to do a similar survey of fund managers. I reckon there’d be far fewer in the “no bloody idea” camp — because let’s face it — it’s their job to at least believe they know where the market is headed next… but that the result might also be rather even between the up and down camps.
There’s certainly a few moving parts at play in markets the moment, and I think we can all be forgiven for being less than certain about the next big move prices. I’m reminded of an old saying taught to me by a trading mentor many years ago: “Always remember Carl: There are old traders. There are bold traders. But there are no old, bold traders!”
I’m very happy being a constituent of the first camp! 🧓
Today's best blue chip gainers
Company
Last Price
Change $
Change %
1mo %
1yr %
REA Group (REA)
$174.87
+$7.75
+4.6%
-6.2%
-31.4%
Pro Medicus (PME)
$167.66
+$6.49
+4.0%
-20.2%
-41.8%
Seek (SEK)
$18.72
+$0.65
+3.6%
-19.4%
-18.9%
Treasury Wine Estates (TWE)
$5.35
+$0.18
+3.5%
+3.5%
-49.6%
Nextdc (NXT)
$13.78
+$0.45
+3.4%
+9.9%
-9.0%
Life360 (360)
$26.51
+$0.77
+3.0%
-18.1%
+13.4%
ALS (ALQ)
$24.15
+$0.69
+2.9%
+6.2%
+49.5%
SGH (SGH)
$49.15
+$1.38
+2.9%
+3.4%
+0.0%
Genesis Minerals (GMD)
$7.06
+$0.19
+2.8%
-3.2%
+113.3%
Netwealth Group (NWL)
$24.30
+$0.64
+2.7%
-5.7%
-23.1%
Ramsay Health Care (RHC)
$37.13
+$0.95
+2.6%
+5.0%
+10.5%
Wisetech Global (WTC)
$50.59
+$1.29
+2.6%
-24.5%
-59.4%
Worley (WOR)
$13.47
+$0.33
+2.5%
+3.0%
-7.1%
Challenger (CGF)
$8.81
+$0.21
+2.4%
-3.5%
+43.3%
AMP (AMP)
$1.715
+$0.04
+2.4%
-3.7%
-2.6%
Ansell (ANN)
$32.91
+$0.72
+2.2%
-1.7%
-5.3%
Light & Wonder (LNW)
$164.07
+$3.57
+2.2%
+6.1%
+16.9%
Xero (XRO)
$84.76
+$1.82
+2.2%
-21.1%
-54.1%
Washington H. Soul Pattinson (SOL)
$37.91
+$0.81
+2.2%
0.0%
+12.7%
Lynas Rare Earths (LYC)
$15.14
+$0.32
+2.2%
+7.4%
+135.1%
Today's worst blue chip losers
Company
Last Price
Change $
Change %
1mo %
1yr %
Steadfast Group (SDF)
$4.50
-$0.47
-9.5%
-15.6%
-23.2%
Insurance Australia Group (IAG)
$7.28
-$0.48
-6.2%
-9.2%
-18.2%
CSL (CSL)
$171.39
-$8.98
-5.0%
-1.7%
-37.2%
Suncorp Group (SUN)
$16.05
-$0.71
-4.2%
-8.1%
-19.7%
QBE Insurance Group (QBE)
$19.69
-$0.69
-3.4%
-2.0%
-3.0%
Orica (ORI)
$25.38
-$0.65
-2.5%
-2.5%
+47.0%
ANZ Group Holdings (ANZ)
$36.71
-$0.92
-2.4%
+3.6%
+18.6%
Westpac Banking Corp. (WBC)
$39.28
-$0.73
-1.8%
+3.6%
+15.5%
The Lottery Corp. (TLC)
$5.17
-$0.09
-1.7%
+1.8%
+4.9%
JB HI-FI (JBH)
$79.20
-$1.19
-1.5%
-14.8%
-21.7%
Origin Energy (ORG)
$10.99
-$0.14
-1.3%
-3.3%
+8.4%
James Hardie Industries (JHX)
$33.24
-$0.39
-1.2%
+2.5%
-38.2%
Block (XYZ)
$80.65
-$0.86
-1.1%
-23.0%
-41.8%
Fortescue (FMG)
$21.57
-$0.21
-1.0%
-5.0%
+11.4%
Sigma Healthcare (SIG)
$3.09
-$0.03
-1.0%
+6.9%
+9.2%
Dyno Nobel (DNL)
$3.35
-$0.03
-0.9%
-1.2%
+11.7%
Whitehaven Coal (WHC)
$9.08
-$0.08
-0.9%
+16.0%
+46.0%
Brambles (BXB)
$22.97
-$0.19
-0.8%
+1.1%
+17.1%
Amcor PLC (AMC)
$68.40
-$0.55
-0.8%
+6.4%
-14.7%
Stockland (SGP)
$5.18
-$0.04
-0.8%
-6.3%
+0.6%
