Friday 13th March – ASX 200 down 12 – NST tumbles – BHP eases – Iron ore better – Oil flat in Asia – US PCE tonight.

13 Friday Mar 2026

Posted by in Daily Reports

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The ASX 200 lost a mere 12 points to 8617to finish the week down 2.6%. Banks pushed higher led by NAB with the Big Bank Basket back up to $299.06 (+1.1%). Insurers also better as rate rose, SOL up 1.5% and MFG continuing to find friends on the merger deal, up another 3.4%. PNI dropped 4.3% and RPL down 5.2% on another biotech investment blowing up. Industrials were a little better, WES managed a 0.8% rise, ALL up 1.2% and TLS rose 1.4%. Healthcare mixed, RMD falling 0.5% and RHC up 1.0%. Tech was mixed too, WTC eased 0.8% but XRO rose 2.6% and the All-Tech Index unchanged.

In resources, BHP fell 2.3% as its standoff in China continues, RIO and FMG doing well on the back of higher iron ore prices, gold miners slipped, not helped by NST crashing 18.8% on production woes. Oil and gas stocks muted with coal slightly firmer and uranium generally a little better, DYL up 1.0%.

In corporate news, IMM fell 88.6% after its Phase III trial was abandoned. QAN reached a settlement for $105m for CV19 related cases. WGX announced the completion of its sale of two projects. NST fell hard on a production downgrade due to milling issues at the Super Pit. LIC rallied as US-based prefab giant Hometown America bought a stake at 490c. EOS up 18.4% after it revealed $US45m ($64 million) in new defence orders, including a major Middle East contract for its Slinger weapon system.

Nothing on the economic front. US PCE index tonight.

10-year yields steady at 4.94%.

Asian market weaker on oil prices, Japan down 1.5%, HK down 0.5% and China up 0.3%. Korea KOSPI down 1.9%. WTI Oil down 0.4% in Asia.

US Futures: DJ up 100, Nasdaq up 17

HIGHLIGHTS

  • Winners: EOS, LIC, SRL, LIN, DTR, EQR, DRO
  • Losers: IMM, NST, MEK, IPX, TVN, TCG, KAR
  • Positive Sectors: Iron ore. Insurers. Banks. Coal.
  • Negative Sectors: Gold miners. Healthcare.
  • ASX 200 Hi 8665 Lo 8586 Same range as yesterday.
  • Big Bank Basket: Rises to $299.06 (+1.1%)
  • All-Tech Index: Unchanged.
  • Gold: Steady at $7225
  • Bitcoin: Higher at US$71341
  • 10-year yields: Steady at 4.94%
  • AUD: Falls to 70.65c as USD picks up on haven buying.
  • Dow up 100 Nasdaq up 17

MARKET MOVERS

  • LIC +17.2% US group takes a stake.
  • EOS +18.4% new defence order.
  • LTR +4.0% broker upgrade.
  • DBI +6.0% note issuance.
  • SRL +12.7% volatility continues.
  • EQR +7.4% Half yearly report.
  • AAI +3.5% aluminum prices on Strait blockade.
  • IMM -88.6% as a Phase III trial was pulled.
  • RPL -5.2% owns 14% of IMM! Doh! Again.
  • SYR -29.2% US ITC reaches final determination on AD/CVD
  • NST 18.8% production downgrade.
  • IPX -14.1% still falling.
  • FWD -9.0% ex dividend.
  • Speculative Stock of the Day: Nothing on any volume.

ECONOMIC AND OTHER NEWS

  • Demand for credit rose in February as borrowers rushed to refinance mortgages and secure funding ahead of potential interest rate changes, new data from Equifax shows
  • Credit card demand rose 14% from a year earlier, although the number of new accounts remained stable as consumers switched between providers amid aggressive lender incentives.
  • Bluesfest has been cancelled due to poor ticket sales.
  • Rio Tinto’s Kennecott copper mine suspends operations as contract worker dies.
  • US Refuelling plane crashes over Iraq. US to allow countries to buy Russian oil.
  • The yen fell to its weakest level since July 2024 as a deepening war in the Middle East pushes up oil prices.

And finally…..

Clarence

XXXXX

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