The ASX 200 was on shaky ground falling 82 pts to 8829 (0.9%), with BHP the major culprit after announcing changes to payments and a blowout in capex at its Jansen potash project. Lower iron ore prices didn’t help either, BHP finished down 5.6%, with RIO falling 3.1%. Not helping investors was news that JD Vance was no longer in the departure lounge for Switzerland, as Lebanon remains an issue. Donald Trump has already signed the MOU with Iran, but we did see US futures turn negative, despite the fact there is a holiday in America tonight. ASX 200 unchanged for the week.

The banks held relatively firm, with NAB up 1.1% and the Big Bank Basket steady at $270.18 (+0.1%). Tech once again drifted lower, with WTC down 0.3% and TNE down 2.7%. Huge jump today in CSL up 7.6% to a multi month high.

There was further carnage in the resources space, with the gold price once again under pressure. EVN fell 5.1%, while NEM also dropped 6.7%. Lithium stocks eased back, with PLS down 4.7% after announcing an expansion to the P2000 target project. Oil and gas stocks were slightly firmer as oil picked up a little, while coal stocks were better. Uranium stocks, however, came back under pressure.

In corporate news, EOS jumped 14.1% on the back of a large order from the Middle East. BHP was very much in focus following its Jansen update. SKC rallied 14.6% on a settlement deal. QAN had a good day after announcing its Project Sunrise flights to London from October 27. LIC also fell hard after flagging an acceleration in sales momentum, although lower pricing offset the good news.

There was nothing on the economic front locally, with China, Hong Kong and Taiwan closed, and US markets shut tonight.

HIGHLIGHTS

• Winners: 4DX, EOS, A2M, CSL, IEL, WBT, 360, SHA
• Losers: WC8, DYL, LIC, AIS, LGF, DPM, AAI
• Positive Sectors: Healthcare.
• Negative Sectors: Iron ore. Gold miners. Uranium. Lithium.
• ASX 200 Hi 8859 Lo 8803 – Unchanged for the week.
• Big Bank Basket: Higher at $270.18 (+0.1%)
• All-Tech Index: Flat.
• Gold: Falls to $5907
• Bitcoin: Falls to US$62556
• 10-year yields: Falls to 4.77%
• AUD: Drops to 69.94c
• Oil down 2.5%

MARKET MOVERS

• EOS +14.1% JV and order from UAE.
• 4DX +17.6% good move, no idea why!
• CSL +7.6% huge jump.
• A2M +9.8% broker upgrade.
• IEL +6.7% trading update.
• WBT +6.6% chips with everything.
• AD8 +27.4% no reason.
• SKC +14.6% settlement details.
• AGE -29.5% a croc really.
• PEN -6.7% uranium falls.
• WC8 -10.3% falls again.
• AIS -8.2% scheme approved.
• LIC -8.9% trading update.
• AAI -6.9% commodity falls.
• DYL -9.9% broker moves.
• Yesterday’s Hero – BDX – 10.8%
• Speculative Stock of the Day: Nothing on volume or reason!

ECONOMIC AND OTHER NEWS

• Andy Burnham by-election victory sets up challenge to Starmer.
• SpaceX plots $20bn bond deal after record IPO.
• BoE Governor Bailey warns of persistent inflationary pressure despite falling energy costs.
• US launches trade investigation into Germany’s spending on new medicines.
• JD Vance cancels trip. Trump claims Iran deal is ‘unconditional surrender,’ says his power has ‘no limits.
• Asked what he had learned from the war about the limits to his power, Trump said that “I haven’t learned that lesson yet. I know there are, but there are no limits.”
• German grid equipment maker SGB-SMIT prepares for €4bn IPO amid AI boom
• The average SpaceX retail investor is only just above water after this week’s trade with VWAP at $181.71.

• Go the Male Matildas! And how good is the Norway ‘Ro!’.

And finally….

Clarence

XXXX