Thursday 16th April – ASX 200 dropped 24 pts – Banks Tank – Tech Soars – Unemployment at 4.3% – AUD nearly 72c

16 Thursday Apr 2026

Posted by in Daily Reports

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The ASX 200 closed down 24 to 8955 (0.3%) as early buyers ran out of puff. Banks were soggy again with profit taking gripping the sector. The Big Bank Basket fell to $299.27 (-2.4%). CBA dropped 2.8% and WBC fell another 1.7%. NAB the bad boy, off 2.5%. Other financials were firm, MQG up 2.1% on US counterpart results, ZIP rallied another 11.4% ahead of results tomorrow, SOL up 1.3% with REITs also firming, GMG up again and GPT rising 1.1%. Industrials were mixed, WES fell again, TLS slipped 0.9% and CSL dropped a further 1.4%. PME jumped 8.3%. Tech was the star of the show today, WTC up 12.4% and XRO rallying 9.0% with the All-Tech Index up 5.7%. REA burst higher too and CAR.

In resources, iron ore stocks were mixed, BHP eased 0.3% with FMG up 1.0% on a Macquarie update. Gold miners under a little pressure, EVN off 4.2%. Lithium stocks up with PLS up 5.9% and LTR up 9.0%. Oil and gas stocks gave up more gains, WDS down 1.1% and STO down 1.0%. Coal stocks firmed and uranium up again, PDN up 2.6% and BOE bouncing 4.5%.

In corporate news, ASX credit rating downgraded to A+. VEA suspended on the fire at Geelong. NWL gained 5.7% on latest FUM, AMP up 3.6% as its cash flow numbers out. ORI fell 1.6% after resuming operations at Kooragang Island.

In economic news, resilient jobs numbers showing headline at 4.3% still. Growth came in slightly below expectations.

Asian markets saw modest gains – Japan up 2.6%, HK up 1.5% and China up 0.7%. 10-year yields fall to 4.96%.

US Futures jump, Nasdaq up 110, Dow up 75. Europe is opening firmer.

HIGHLIGHTS

  • Winners: 360, WTC, EIQ, ZIP, OBM, CXO, FCL
  • Losers: 29M, DTR, REH, NEM, JHX, FRS
  • Positive Sectors: Financials. Lithium. Tech.
  • Negative Sectors: Banks. Gold miners. Defensives.
  • ASX 200 Hi 9017 Lo 8937
  • Big Bank Basket: Falls to $299.27 (-2.4%)
  • All-Tech Index: Rallies 5.7%
  • Gold: Eases to $6711
  • Bitcoin: Steady at US$75072
  • 10-year yields: Rose to 4.96%
  • AUD: Rising to 71.89c.

MARKET MOVERS

  • 360 +12.5% tech bounce.
  • WTC +12.4% tech bounce finally.
  • EIQ +12.2% med tech bounce.
  • ZIP +11.4% update tomorrow, shorts covering.
  • OBM +10.3% quarterly report.
  • PME +8.3% solid bounce.
  • AZY +10.9% write up.
  • LDX +8.8% results webinar.
  • POL +10.5% change in substantial holding.
  • 29M -35.1% production issues.
  • DTR -11.0% pullback.
  • REH -5.3% no reason.
  • DGL -26.2% HY results.
  • IPO of the Day: BSR +255%. Not a bad start!
  • Yesterday’s Hero: IMM +4.2%
  • Speculative Stock of the Day: Nothing today on any volume.

ECONOMIC AND OTHER NEWS

  • The seasonally adjusted unemployment rate remained at 4.3 per cent in March, according to the latest data.  Growth was driven by full-time workers, which rose by 53,000 people in March. This was partly offset by a fall in part-time employment of 35,000 people.’
  • China’s economic growth rebounded more than expected in the first quarter of 2026, with GDP expanding 5% from a year ago.
  • Industrial output grew 5.7% in March from a year ago, while retail sales increased 1.7%, weakening from the 2.8% expansion in the first two months.
  • UK GDP +1% Y/Y in Feb. Better than expected.
  • DR Congo tightens control over critical minerals with strategic reserves.
  • Saudi Arabia’s PIF on verge of cutting support for LIV Golf.
  • EU climate chief warns there is ‘no workaround’ for high energy prices.

And finally….

I sent a clown to deliver some flowers to my wife… I thought it would be a romantic jester…

I caught my neighbour stealing my socks off my clothesline. I was going to confront him, but I got cold feet.

Clarence

XXXXX

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