Wednesday 8th April – TACO Day – ASX 200 jumps 223! Ceasefire punishes the shorts – US Futures up 2-3% – Gold jumps – Oil drilled.

08 Wednesday Apr 2026

Posted by in Daily Reports

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The ASX 200 jumped out of the blocks again on the ceasefire. The ASX 200 jumped 223 points to 8952 (2.6%). Interestingly, not much intraday volatility. Everything was risk on as peace breaks out. Long term or short term is yet to be seen. Oil prices fell hard, and equities rallied across the board. Banks rallied again with CBA up 1.9% and the Big Bank Basket jumped to $305.03 (2.4%). MQG had a great day up 5.6% with other financials doing great. ZIP up 19.5% and NWL up 10.0%. REITS soared as yields dropped, GMG up 7.1% and CHC up 4.0% with industrials doing well too. QAN up 9.4% and VGN up 11.7% with WES rallying 3.3% and CSL even up 1.3%. REA and tech stock jumped, WTC up 10.7% and XRO up 6.5% with the All-Tech Index up 6.6%. Defensives slipped, TLS down slightly, ORG and AGL fell with retail jumping on hopes for lower petrol prices.

Resources on fire, BHP up 3.0% and RIO rallying another 4.4%. Gold miners jumped as bullion took up the baton, NST up 7.1% and EVN up 10.0% with RMS rallying 9.6%. Lithium not left out, PLS up 1.7%, LTR roaring 8.4% ahead. Rare earths up strongly, LYC up %. Oil and gas stocks fell, WDS down 10.5% and STO falling again. Coal stocks also smacked down with uranium stocks back in focus, PDN up 8.5% and LOT up 11.7%.

In corporate news, DRO dropped 13.5% on news that the CEO and chair will be stepping down. BGL raced up 18.9% on production numbers as did RRL. PME also doing well following a five-year $23m contract with the University of Maryland Medical System. FLT also doing well on a deal to sell Pedal.

On the economic front, dwelling commencements rose 8%.

Asian markets soar, Japan up 5.4%, HK up 3.1% and China up 3.4%. Korean KOSPI up 6.9%

10-year yields fall to 4.87%.

US Futures jump Nasdaq up 812, Dow up 1110. Europe opening significantly better.

HIGHLIGHTS

  • Winners: ZIP, BGL, FFM, LRV, BC8, FML, KCN
  • Losers: DRO, KAR, WDS, NHC, YAL, BPT, ORG
  • Positive Sectors: Everything pretty much.
  • Negative Sectors: Defensives. Oil and gas. Coal.
  • ASX 200 Hi 8986 Lo 8933. Surprisingly narrow range!
  • Big Bank Basket: Jumps to $305.03 (2.4%)
  • All-Tech Index: Races up 6.4%
  • Gold: Rises to $6826 – US Gold up 3.3%
  • Bitcoin: rallies to US$71716
  • 10-year yields: Falling to 4.87%%
  • AUD: Jumps to 70.78c as USD strength unwinds.

MARKET MOVERS

  • ZIP +19.5% big run. Shorts panic.
  • FFM +18.4% Green Bay drilling result.
  • LRV +17.8% antimony in favour.
  • KCN +15.6% bullion bounce.
  • BGL +18.9% production report.
  • AYA +25.4% cleansing notice.
  • HCH +19.2% good drill results.
  • TKM +25.0% Investor presentation.
  • STN +16.5% good drill results.
  • DRO -13.5% CEO steps down.
  • KAR -13.1% oil price smack down.
  • NHC -9.4% YAL-9.2% coal stocks not so merry.
  • Yesterday’s Hero: CXU -8.6% .
  • Speculative Stock of the Day: RML +75% Secures White House FAST-41 Status.

ECONOMIC AND OTHER NEWS

  • Ceasefire deal for two weeks. 800 vessels on stand by!
  • Locally, total dwellings commenced rose 8.0% to 53,567 dwellings. New private sector houses commenced fell 0.9% to 28,469 dwellings. New private sector other residential commencements rose 23.4% to 23,849 dwellings.
  • The U.K.’s FTSE 100 index is seen opening 3% higher, with Germany’s DAX 5% higher, France’s CAC 40 up 4.5% and Italy’s FTSE MIB 5.3% higher
  • European stocks are expected to open sharply higher on Wednesday after the U.S. and Iran agreed to a conditional ceasefire deal.
  • Kanye West banned from entering UK after antisemitism dispute.
  • Perplexity revenue jumps 50% in pivot from search to AI agents
  • Anthropic rolls out cyber-AI model days after source code leak
  • Reserve Bank of India keeps rates unchanged.

And finally…

Clarence

XXXXX

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