End of Day Report – Thursday 8 October: ASX 200 drops 67 - Firmus in doubt - Banks fall - Miners under pressure - MGH drops 22%

The ASX 200 fell 67 points to 8,661. Rumours continued to swirl around the Firmus IPO and repricing due to valuation question marks. The banking sector was weaker today, with **CBA** down 1.5% and **NAB** down 1.6%. The **Big Bank Basket** fell 1.5% Also, we saw **MQG** succumb to gravity, falling 0.8%. Insurers were better on the back of higher bond yields, with **QBE** up 1.4% and **IAG** also doing well, up 2.2%. The rest of the financials eased back, although we did see gains for **ASX**, up 3.8%. Rates were a little mixed, with **GMG** up 0.7%, but **VCX** down 0.4%. Industrials somewhat on the nose today, with interest-rate-sensitive stocks falling: **BXB** down 0.8%. We also saw some big falls in mining contractors: **MND** falling 3.2%, and **NWH** down 4.0%. **MGH** tumbled 22.4% on the back of a pessimistic outcome for the Firmus IPO. Retail stock mixed, with **JBH** up 0.5%, but **WES** falling slightly. Both **WOW** and **COL** gained, along with **TLS**, as defensive plays. Meanwhile, tech stocks were a little mixed, with **WTC** up 0.5%, but **TNE** slipping slightly. **CDA** also fell 1.4%. Resources were back on the nose today on US dollar and yield moves. **BHP** falling 2.0%, **RIO** down 2.9%, and rare earths and lithium stocks falling, with **PLS** down X% and **MIN** down X%. Gold miners eased off, with **NST** down 1.4% and **WGX** down 2.5%. In the oil and gas space, both **WDS** and **STO** were better as the oil price rose, and uranium stocks gave back yesterday's gains following U.S. falls. In corporate news today, we saw **RMS** out with their quarterly and **FMG** reporting a 6% decrease in first-quarter iron ore shipments. We also had falls in stocks that had data centre exposure on the Firmus issue. Nothing significant today on the economic front. 10-year yields steady at 5.38%. US Futures drifting lower.  **Marcus Today – Daily Market Insights**  Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.  If you'd like to go further:  **Start a free 14-day trial of Marcus Today** http://bit.ly/mt-trial-podcast  **Join Marcus Today** Use code MTPODCAST for 10% off http://bit.ly/mt-join-podcast-offer  **MT20 – Managed ETF Portfolio** A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing. http://bit.ly/mt20-podcast  **Principles – How We Think About Investing** A short video series on timing, behaviour, and decision-making. No stock tips. http://bit.ly/mt-principles-podcast  —  **Disclaimer**  This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.