End of Day Report – Wednesday 4 June: ASX 200 up 75, close to record high | CBA extraordinary

ASX 200 finished up 75 points at 8542 (0.9%) close but no cigar. CBA became the first $300bn market cap stock on the ASX. Not surprisingly a new record, the Big Bank Basket up another 1.3% to $282.44. WBC the best of the bunch, up 1.5% with MQG up 1.5% and GQG lifting 4.3%. REITs also firmed GMG up 0.7% on data centre demand. Retail stocks also in demand following lacklustre GDP numbers and hopes fro more rate cuts. LOV romped 9.1% higher as Mark McInnes joined as deputy chair. JBH up 2.1% and HVN up 3.0% with travel and fast-food stocks rallying too. Defensives sold down as WOL, COL and TLS fell slightly, tech gained a little, WTC up 1.1% and TNE up 1.4% with the All-Tech Index up 0.9%. In resources BHP up 1.0% with FMG rising 1.6% as iron ore found some strength in Singapore. Gold miners sold down, EVN down 2.7% with GMD off 2.8% and SPR losing 0.9%. Uranium stocks spurted higher on Meta moves in US to shore up nuclear power deals, Lithium also saw buyers return, PLS up 5.7% and LTR rising 6.1% with MIN doing well, up 9.2%. Oil and gas better with CRN sorting some liquidity issues out, up 38.1%. In corporate news, MYX was issued with the scheme termination notice falling 5.3%, IEL fell another 2.6% after the 48% loss yesterday, and PBH had an upgraded bid of 120c. On the economic front, GDP came in below expectation at 0.2%. Asian markets firmed, Japan up 0.8%, HK up 0.6% and China up 0.5% 10-year yields steady at 4.25%. Want to invest with Marcus Today? The Managed Strategy Portfolio is designed for investors seeking exposure to our strategy while we do the hard work for you. If you’re looking for personal financial advice, our friends at Clime Investment Management can help. Their team of licensed advisers operates across most states, offering tailored financial planning services.    Why not sign up for a free trial? Gain access to expert insights, research, and analysis to become a better investor.