ASX 200 stages a stunning turnaround to close up 179 points to 5940. A 220-point drop at the open turned around in minutes as Dow futures turned higher after Trump’s stimulus speech. a 7% turaround by the close with a late surge of MOC orders helping close at highs. Detail remain light on US stimulus but we will find out more tonight. Banks were the big turnaround stories with CBA up 6.1% after falling 4.9% at the open. WBC closed up 5.2%. The miners also staged a stunning turnaround with BHP hitting 2685c before closing at 2925c up 6.2%.RIO and FMG joined in the fun with gains of 3.5% and 6.8% respectively. Elsewhere the usual suspects were rounded up by the bargain hunters and hunted like a 3-ply roll at Coles. APT up 7.1% and XRO up 6.25% with the All Tech Index up 4.6%. Energy stocks too were in demand after the irrational sell off yesterday with STO up 0.6% and WPL up 2.1%. CTX bounced from under 2600c to close at 2720c up 2.5%. Healthcare back in demand, CSL up 4.4%, MSB rose 19.7% after suggesting that its REMESTEMCEL treatment could be effective in lung conditions associated with CV19. Elsewhere. Defensives were stuck in the slow lane, WOW down 0.35% and COL up 2%. REITS going nowhere as were bond proxies with TCL down 0.75% and ALX down 1.5%. Not much to get excited about on the corporate news front, except for QAN up 7.2% on news it is cutting salaries and routes. but economic news remains bearish with consumer confidence down 4.2% last week. And business confidence falling too. Meanwhile the 10-year yield pushed higher to 0.71% and the AUD 65.80c. In Asian markets, Japan up 0.25% and China up 0.6%

  • ASX 200 up 180 points to 5940. Huge 400 point range on turnaround.
  • High 5940 Low 5539. range. Another big volume day. 7% swing.
  • Dow futures up 700.
  • Banks lead rebound. Miners follow.
  • Energy stocks still struggling.
  • Defensives miss out. Tech rallies. Usual suspects in shopping bags.
  • 10-year bond yields rallied to 0.71%.
  • AUD rises to 65.77c.
  • Oil futures up 6.7%
  • Aussie gold drifts off to $2534
  • Bitcoin crashes to US$7898
  • Asian markets hit with Japan up 0.16% and China up 1%.


  • TYR +1.03% trading update
  • QAN +7.23% cuts routes and Joyce’s salary.
  • JIN +11.75% jackpot tonight.
  • NEC +8.46% fear sells papers.
  • MSB +19.67% testing on CV19 lung issues.
  • WAF -2.42% commissioning update in West Africa
  • ALX -1.51% Italy shuts down. No one notices.
  • NST -3.73% RMS -5.38% and WGX -3.85% golds under pressure.
  • DEG +9.30% drilling report.
  • SYR +9.23% shorts covering.
  • PBP +10.56% generic drug maker seeing strong demand.
  • AFP +16.13% market trading update.
  • CBR -% wheel has fallen off.
  • ALG -% Dreamworld is a nightmare.
  • TLS -% change of director’s interest.
  • Speculative stock of the day: Tesoro Resources (TSO) +27.78% exceptional gold assays from 6th March report.
  • Biggest Rises: MSB, VEA, NWH, S32, BAP, ORA and COE
  • Biggest Falls: TAL, VAH, RMS, AGG, PPH, WGX and CHC


  • Scentre Group (SCG) +0.33% Given increased levels of volatility, SCG is pausing the security buy-back program until further notice. The remaining $321m will be utilised to reduce outstanding debt and provide the Group with additional capital capacity.
  • Qantas (QAN) +7.23% To reduce capacity by 23% for the next 6-months. Cancels off-market buyback announced in February, which will preserve $150m in cash. The interim dividend of 13.5c per share will still be paid on 9 April.
  • Mesoblast (MSB) +19.67% is investigating whether its remestemcel-L stem cell product could be a potential treatment to more severe coronavirus cases that impact the lungs.


  • NAB Business Survey for February: Conditions: 0 points (down from +2 points) Confidence: -4 points (down from -1 point).
  • ANZ-Roy Morgan consumer confidence down 4.2% last week. The move marks the third consecutive fall, for a cumulative decline of more than 8%, taking the index to May 2014 lows.



  • China reports 19 new cases, 17 deaths. Chinese President Xi Jinping visited the coronavirus epicentre of Wuhan for the first time since the disease emerged.
  • South Korea’s health ministry confirmed 131 more coronavirus cases in the nation, raising the total to 7,513. Japan’s cabinet approved a bill that would enable the declaration of an emergency over the new coronavirus if needed.

iPhone shipments in China plunged more than 60% in February


  • Not just VIX that has jumped but volatility in the US Bond market is at a decade high.

  • Italy is now closed. Ireland has cancelled St Patricks Day. Spain has closed some schools. El Al urges travellers to return home before flights are cancelled.
  • Only 4,384 people in the U.S. have been tested for the new coronavirus, nearly two weeks after the disease was found to be spreading across America.
  • Robinhood, the US cut price stock trading app, suffered its third outage since the start of last week.

And finally……………..

A man walks into a police station and announces, “My wife’s gone missing.”

The police officer says, “OK sir, we’ll help you. Since when has your wife been missing?”

The man replies, “Since about a month ago.”

The police officer is shocked, “What? A month?! Why on Earth are you coming only now?!”

“Well… I’ve no clothes to put on anymore.”



A man goes to his doctor and says, “Please help me, doctor. I think my eyesight is really worsening.”

The doctor asks the man to come and look out of the window. “Tell me what you see there,” says the doctor and points.

“I see the Sun,” answer the man.

The doctor turns to him and asks, “Sweet Jesus, how much further do you want to see?!”



What is the worst combination of illnesses?

Alzheimer’s and diarrhea. You’re running, but can’t remember where.





Get a Global take on things at