MARCUS END OF DAY - Tuesday, 2 September

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The ASX 200 has finished the day down 27 points or 0.3% near session lows. Losses in Discretionary stocks and Staples worsened, Resources maintained, and Tech eked out a small gain despite no change to Nasdaq futures. Good to see WTC and XRO staging a late rally. A mixed session in Financials saw it close with a net win on top. CBA, NAB and WBC up around 1% while ANZ lost 0.3%. GQG and MFG up over 2% while ZIP, MQG, HUB and NWL couldn’t turn things around. Discretionary stocks stayed biggest losers. Not just WES that struggled. JBH lost 1.7% and APE felt a big of profit taking down 2.6%. GYG down 3.9% WES down 263c vs the 111c dividend. WOW down 90c vs the 45c dividend.

Resources flat as both BHP and RIO slightly rising and gold offset losses in FMG, lithium and copper stocks. Bullion hit a record high. Moving above its four-month resistance level at $3430 to close just below $3500. EVN up but NST surprisingly down. Profit taking already? Uranium and rare earths directionless. Oil mostly down. Defence stocks mixed as traders punt on the latest geo-political headlines. DRO down. EOS up. CDA flat.

Quiet on the announcements front as the industry recovers from manic reporting season. Wall St reopens tonight. Nasdaq futures still down 0.2%. EU futures flat. Australia's current account deficit narrowed to $13.7bn in Q2 and slightly better than expected. Net primary income deficit decreased, prompting a few brokers to drop GDP forecasts by 10bp ahead of tomorrow’s print.

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STORIES

• REA Group (REA -0.4%) – The Domain threat on REA is becoming more real but we're still holding.
• Scores on the Doors after Results Season in Growth and Income Portfolios.
• BYD forced to cut EV prices to maintain market share. Tesla also struggling but it’s good news for APE.

ANNOUNCEMENTS

• Platinum Asset Management (PTM -3.9%) – Significant client funds redemption of $580m planned for October and November.
• ANZ (-0.3%) – Finalising plans to cut up to 5000 jobs from its Retail division.
• Collins Foods (CKF +7%) – Reports at AGM total sales in FY26 to date up 6.7% vs last year. Guidance reaffirmed.
• NRW Holdings (NRW +6.3%) – Trading halt pending finalisation of a strategic acquisition. To remain in place until details are released or start of trading on Thursday. Stock is up 5% since results on 22 August.
• Region Group (RGN -0.4%) – Appoints new CEO.
• GlobalX strategist says only 20-30% of ASX companies beat earnings expectations vs at least 80% in the US. See Scores on the Doors below for how we did.
• Jefferies analysts have estimated that 50% of ASX companies have seen earnings downgrades post-results. Mining and Energy most downgraded. Financials most upgraded.
• DUG Technology (DUG +25.3%) – Signs multi-year SaaS and High Performance Computing as-a-Service (HPCaaS) contract with Petronas (subsidiary of Malaysia’s national energy company). Minimum contract value of US$23.8m.

EX-DIVIDEND TODAY

• WES (111c 100%), SIG, WOW (45c 100%), NST, STO, WOR, BEN, EDV, CDA, ILU, MAF, DMP, EQT.
• PME (no significant yield), ORG (100%, 30c), EVN, SHL, SEK, MCY, NWL (100%, 21c), RHC, SDF, WHC, DOW, MND, QRI, AEF, UNI, PPS, SVR, PWR, HUM tomorrow.

SCANS

• 52 Week Highs (Pre-market) – COL, SOL, NEM, VCX, APA, HVN, APE, RMS, ZIP, BKW, CMM, VAU, WGX, HDN, CYL, PNR, DYL, ALK, MMS, PDI, SIQ, RIC, VSO, RUL, GDX.
• 52 Week Lows (Pre-market) – AAA, DMP.

TODAY

• Corporate – CKF AGM.
• EU – Inflation print. Forecast to rise from 2% to 2.1%.

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