ASX 200 closes up 25 to 5243 to end the week down 4.46%. Dow futures showing a loss of 149 points. A quiet end to the week with a bounce in banks helping sentiment. The Big Bank Basket rose slightly to $105.99 with CBA up 0.1% and NAB up 0.25%. Healthcare was better led by CSL up 2.3% and RHC bouncing back from its capital raise up 2.35%. Miners too were in the green with BHP up 2.7% and FMG up 3.4%. Energy stocks too benefiting from Asian oil gains with WPL up 1.8% and STO up 1.9%. Gold miners remain well supported with NCM up 0.2% and EVN up 2.2%. Industrials were mixed, TLS enjoyed a 1.0% gain whilst consumer stocks fell slightly, WOW down 0.7%, and DMP down 3.5% on a CV19 update. Nothing happening in tech stocks , All Tech Index up 0.4%. In corporate news, MSB had a fabulous day as its REMESTEMCEL treatment has produced very good results in acute CV cases on ventilators. WEB saw good reatil demand for its entitlement issue and regained 9.6% In bad news, SDA filed for Chapter 11, Nothing on the economic front of note. 10-year yields up to 0.88%. AUD at 63.50 steady as she goes. Asian markets weaker as Japan fell 0.33%, and China down 1.03%

  • ASX 200 closed up 25 to 5258 for a weekly loss of 4.46%.
  • High 5264 Low 5207. The range narrows again. Volume drops.
  • Dow Futures down 140.
  • Big Bank Basket up slightly to $105.99.
  • CSL rallies. MSB shows great success in trials.
  • Miners better as oil rallies. Energy and gold follow.
  • 10-year bond yields rally to 0.88%
  • AUD steady at 63.44c.
  • Aussie gold rallies to $2715
  • Bitcoin firms to US$7515
  • Asian markets weaker as Japan fell 0.33%, and China down 1.03%


  • APA +0.73% Citi says buy.
  • CAR +1.56% Macquarie upgrades.
  • MSB +38.93% REMESTEMCEL shows great signs of recovery for ventilator patients.
  • WSA -1.87% affirms production guidance
  • WEB +9.65% retail offer closed oversubscribed.
  • EOS +8.07% some book squaring.
  • NEA -5.95% rally unwinding. Spookfish valuation hurts.
  • LYC -5.52% US trial rethink.
  • AVH -4.55% US moves continues to upset some.
  • DMP -3.51% business update.
  • BRL -23.29% court decision.
  • PDN -4.55% uranium optimism runs dry.
  • PSQ +10.85% reopens dental centres.
  • AMX +17.20% acquisition of Spookfish.
  • Speculative stock of the day: Botanix Pharma (BOT) +61.76% FDA grants BTX 1801 QDIP designation. Great volume.
  • Biggest Rises: MSB, WEB, NWH, EOS, MYX, CTD, and IEL.
  • Biggest Falls: IFM, NEA, LYC, CGF, ORE, AVH, and EBO.


  • Mineral Resources (MIN) -3.53% Reports total iron ore produced 3.4m wmt vs quarter-ago 3.3m wmt. Notes COVID-19 hasn’t materially influenced operations, adds it is unclear what impact it will have on the remainder of the calendar year, including on-demand and consumption for either iron ore or lithium. Iron ore shipments 2.9m wmt, down 12% vs quarter ago. Average revenue received of $75 per dmt iron ore, down 5% vs quarter ago. Expects H2 mining services EBITDA to be similar to H1.
  • Domino’s Pizza Enterprises (DMP) -3.51% France has about 70% of stores now trading, New Zealand stores are preparing to reopen on April 28. Japan and Germany have continued strong sales performance, with sales performance significantly increasing in Japan. In Australia and Europe, same-store sales performance has been positive but notes new consumer behaviour is affecting individual stores in each market unevenly. Medium-term outlook is unchanged, sees new store openings (+7 to 9% per year), Same-Store Sales (+3 to 6% per year) and Net Capex ($60 – 100m per year). Reiterates its policy is not to provide short-term guidance and any previous statement which might be construed as earnings guidance for the current financial year is withdrawn.
  • Ramsay Health Care (RHC) +2.35% Is rumoured to be interested in Icon Group following its recent $1.2bn capital raising.
  • Incoming Vodafone-TPG CEO confirms intention for the merger to be completed by July. Adds there will be little room for redundancies.
  • Santos (STO) +1.88% CEO says that the company may need to reduce drilling at the GLNG venture in the event of prolonged low oil prices. Santos CEO Kevin Gallagher added that the Australian government should consider creating an emergency stockpile of gas to combat supply shocks, as strategic gas reserves could provide a buffer during unexpected economic events such as the current one.
  • Infomedia (IFM) -8.82% completes $70m institutional Placement priced at 150c/share.
  • Western Areas (WSA) -1.87% March quarter nickel production and sales volumes progressed as planned, FY20 guidance on track. Nickel production 5,896t vs 5,849t in the previous quarter. Recorded nickel sales of 6,038t vs 3,991t in the previous quarter. The December quarter was weighed down by bushfire related issues. Unit cash cost of nickel in concentrate of $3.07/lb vs guidance of $2.90 – $3.30/lb. Notes it is in a strong financial position and remains well funded.


  • The Australian Taxation Office had received 527,000 applications to unlock savings as of Thursday night, taking the total amount approved for early release to $4.4bn. The average drawdown is roughly $8350 of a maximum $10,000 lump sum available. The government expects about 1.6 million to make use of the hardship access.


  • South Korea will require violators of the self-isolation rule to wear tracking wristbands beginning April 27. South Korea reported six more coronavirus cases for the past 24 hours, marking a total tally of 10,708.
  • The coronavirus doesn’t last as long on door handles and other nonporous surfaces when it’s exposed to sunlight, higher temperatures and humidity, according to a U.S. government study.
  • The number of new coronavirus cases and deaths in Germany rose by the most in nearly a week



  • Singapore housing prices fell 1% in the three months ended March 31, data from the Urban Redevelopment Authority released Friday showed. That compares to a preliminary estimate of a 1.2% decline.
  • China’s central bank rolled over some of the targeted funds due Friday while cutting interest rates on the loans.


  • Europe set to open slightly lower. Corona bonds remain on the menu.
  • Gilead fails the test.
  • Sanofi’s sales and profit rose in the first quarter as consumers snapped up the drug maker’s treatments ahead of lockdowns
  • Boris Johnson back to work, thankfully.
  • Boeing is set to cut Dreamliner production by half.
  • U.S. Treasury Secretary Steven Mnuchin will require public companies deemed critical to national security that seek a share of US$17bn in virus-related relief to offer an equity holding to the government.

And finally…no joke today does not seem appropriate



Lest we forget