Thursday 7th May – ASX 200 jumps 85 – BHP and gold miners shine – TAH crashes – Banks firm – CSL falls again.

07 Thursday May 2026

Posted by in Daily Reports

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The ASX 200 soared another 85 points to 8878 as US markets hit records. The Japanese market breached 62,000 for the first time ever, and resources rebounded hard on the back of falling oil prices. The banking sector was firm, with the Big Bank Basket rising to $295.43 (+0.5%), despite NAB going ex-dividend today, which wiped around 12 to 14 index points off. Other financials also had a good day, with the likes of HUB doing well, MQG up 0.5% and NWL also doing well. The Macquarie Conference continues, and ZIP rose 4.8% following an update which was pretty well known, given the results have only just come out. Industrials, though, were a little wishy-washy across the board, with healthcare once again under some pressure, as CSL fell another 2.1%, SIG also falling perhaps on its UK expansion plans, and utilities also under some pressure, as ORG fell 2.6% as well. Retail sector was better, with WES rising 1.4% together with JBH up 2.0% as well. One that did disappoint was SUL, down 2.9%, as it updated the market on disappointing trading conditions.

Over in the gaming space, ALL fell slightly, but the big fall of the day was TAH, which was smashed 23.5% after news that AUSTRAC was investigating the bookie. LNW also fell 8.3% on the back of their results today.

Technology shares were once again under pressure, with WTC down 0.9% and XRO falling 2.0% and the All -Tech Index down 0.1%.

The stars of the show today, though, were the iron ore majors in the resource sector, together with the gold miners as bullion rallied hard as the oil price has fallen. NST up 4.4%, EVN up 6.3%, and NEM up 2.8%, helping the index. BHP had a great day, up 3.8%, as it looks to rise towards $60. Uranium shares were also flying today, as their international counterparts rallied hard, up x%. In the coal sector, not such a merry old place to be. NHC fell 4.3%. WDS and STO both hit hard today, as the crude price fell.

In corporate news today, BFG bounced hard on better profit numbers, AIN dropped and entered a trading halt as the fallout from the Kyle and Jackie ‘O’ show continues. FPR had a strong first half but SUL struggled on the sales front.

In economic news today, we had the international trade in goods numbers, which decreased by $6.867bn in March.

Asian markets saw big gains as they returned from Golden Week holidays and played catch up. Japan soared 6% on the Nikkei, HK up 1.4% and China up 0.3%.

US futures slightly higher. 10-year yields drifted to 4.93%

HIGHLIGHTS

  • Winners: WIA, DPM, IPX, VAU, BOE, PDN, EIQ
  • Losers: TAH, IMD, 4DX, LNW, VEA, SGR, NHC, EOS
  • Positive Sectors: Iron ore. Gold. Uranium. Lithium. Banks/Financials.
  • Negative Sectors: Healthcare. Tech. Oil and gas.
  • ASX 200 Hi 8888 Lo 8845 Narrow range considering.
  • Big Bank Basket: Jumps to $295.43 (+0.5%) NAB XD.
  • All-Tech Index: Down 0.1%
  • Gold: Stronger to $6545.
  • Bitcoin: Steady at US$81333
  • 10-year yields: Steady at 4.93%.
  • AUD: Rallies to 72.50c.

MARKET MOVERS

  • IPX +10.3% kicks higher.
  • SLX +7.9% uranium exposure.
  • MP1 +9.4% investor presentation.
  • CCP +8.0% reaffirms guidance.
  • DPM +10.6% AGM results.
  • PDN +8.5% uranium bounce.
  • A11 +12.5% binding scheme with Chinese miner.
  • DAI +17.2% appointment of auditor.
  • TAH -23.5% AUSTRAC investigation.
  • VEA -5.1% director sell down.
  • A1N +1.9% trading halt post meeting.
  • 4DX -10.5% big run continues to unwind.
  • NHC -4.3% follows oil down.
  • LNW -8.3% results.
  • PLY -14.3% Strong performance of MOUSE P.I.
  • FDR -10.8% quotation of securities.
  • Yesterday’s Hero: CRS -4%
  • Speculative Stock of the Day: KAO +80.0% IPO debut. Gold/Silver in Namibia.

ECONOMIC AND OTHER NEWS

  • Chinese households picked up their pace of spending over the recent Labour Day extended holiday weekend, the five-day break saw a 14.3 per cent jump in consumer sales from the same holiday last year.
  • Nikkei surged over 5% to a record high as Japan reopened after extended Golden Week holidays. SoftBank shares surge over 16% as Japan tech-fueled rally lifts Nikkei 225 to record highs.
  • Qantas has attracted more than $2bn in bids from fixed-income investors after launching a 10-year bond sale on Thursday.
  • UK elections kick off. Largest vote since the General Election in 2024.
  • South Korea’s equity market has overtaken Canada’s as the world’s seventh largest, propelled by insatiable demand for chips powering artificial intelligence.
  • The total market capitalisation of Korean-listed companies has surged 71 per cent this year to $US4.59 trillion, while Canada’s resource and finance-heavy market has climbed about 7% to $US4.5 trillion.
  • Anthropic CEO Dario Amodei said his company tried to plan for 10-fold growth. But revenue and usage increased 80-fold in the first quarter on an annualised basis, which he says explains why it’s been so hard to keep up with demand.
  • Jet fuel crisis worse than Covid for airlines, says AirAsia chief.
  • Airbus wins $19bn order in Canada’s biggest ever aircraft deal.
  • European markets opening flat.

And finally….

Just a warning if you’re buying a watch on Amazon. I learned the hard way that if it says you can swim with it, this only applies if you can already swim without it.

Clarence

XXXX

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