Home Wires Daily Report

The Match Out: Market falls, Tech & Materials the main drag

James Gerrish

Market Partners


The market was hit on open to trade down ~80pts however it ground back from 11am onwards to re-coup half of those declines, most support coming from the influential banking sector which had a strong day.

  • The S&P/ASX 200 fell -37points / -0.50% to close at 7490.
  • Financials (+3.10%) & Consumer Staples (+2.22%) lead the line today, while IT (-2.88%) & Materials (-1.52) struggled.
  • Tech stocks keyed off underperformance in the US overnight, the almost daily rotation continues however they are gaining more support overall as the pace of appreciation in bond yields slows.
  • Coal futures rallied +10% overnight supporting coal stocks today, Whitehaven (WHC) +5.53 had a strong session.
  • Barrenjoey just initiated on Whitehaven & Coronado, both with neutral ratings. As one trader said yesterday, the only view at Barrenjoey is out the window!
  • Banks were all strong, up at least 1% with Bank of QLD (BOQ) +2.05% the best of them following their 1H22 results this week.
  • Magellan (MFG) -5.96% traded ex-bonus option issue today. Options will list on the 14th April under code MFGO
  • The biggest U.S. ETF tracking Australian equities posted its largest quarterly inflow since 2009, global funds back relative momentum and the ASX has been outperforming global peers
  • Iron ore futures were up 3.5% today, the continued strength has been surprising.
  • Gold was down $US10 at US$1932 at our close.
  • Asian markets were all lower, the Nikkei -1.51%, Hong Kong stocks -1.15% while China fell -0.30% .
  • US Futures are mixed, nothing significant.
  • A short note today, down on troops.

    ASX

    • Broker Moves

      • Coronado Global GDRs Rated New Neutral at Barrenjoey; PT A$2.30
      • Whitehaven Rated New Neutral at Barrenjoey; PT A$4.50
      • Servcorp Rated New Buy at Barclay Pearce Capital; PT A$4.33
      • Kelsian Group Raised to Outperform at Macquarie; PT A$8
      • Sims Cut to Neutral at Citi; PT A$21.60
      • GrainCorp Reinstated Overweight at Morgan Stanley; PT A$10

      Make informed investment decisions

      At Market Matters, we write a straight-talking, concise, twice daily note about our experiences, the stocks we like, the stocks we don’t, the themes that you should be across and the risks as we see them. Click here for your free trial.

      The Match Out will be available each day after the market close. Follow my profile to be notified when the latest report is live.

    ........
    Livewire gives readers access to information and educational content provided by financial services professionals and companies ("Livewire Contributors"). Livewire does not operate under an Australian financial services licence and relies on the exemption available under section 911A(2)(eb) of the Corporations Act 2001 (Cth) in respect of any advice given. Any advice on this site is general in nature and does not take into consideration your objectives, financial situation or needs. Before making a decision please consider these and any relevant Product Disclosure Statement. Livewire has commercial relationships with some Livewire Contributors.
    James Gerrish
    James Gerrish
    Portfolio Manager
    Market Partners

    James is the Founding Partner & Lead Portfolio Manager at Market Partners (previously Shaw & Partners) - a collective of highly experienced investment professionals, operating independently, managing discretionary portfolios for wholesale...

    Expertise

    I would like to

    Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

    Personal Information Collection Statement
    Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

    Comments

    Sign In or Join Free to comment

    most popular

    Shares

    5 low-P/E stocks brokers think are buys

    Livewire Markets

    Buy Hold Sell

    Buy Hold Sell: 6 ASX small caps thriving in a macro storm

    Livewire Markets

    Shares

    The ASX stocks most exposed to the next leg higher in rates

    Livewire Markets

    Growth

    Why young Australians should abandon the ASX

    Livewire Markets

    view all
    The 10th annual Livewire Live 2026

    One room. One day. The minds that move markets.

    22 September 2026 Art Gallery of NSW, Sydney

    Register Now