The ASX oscillates between small gains and losses to close down 13 points to 5852 in convictionless trade. The Big Bank Basket slid back to $118.79 on some profit taking after big moves last week. CBA dropped 1.0% and WBC down 1.1%. In other financials, MOC rose 15.9% on new lending rules, with little movement elsewhere. Big miners sagged slightly with BHP down 1.2% and RIO down 1.5%. Gold miners rose slightly led by NCM up 1.3% and energy stocks flatlined. Technology was former led by APT up 5.1% and XRO up 0.8% leading to an All Tech Index gain of 1.57%. REITS firmed, TCL slipped 2.5% on Victorian lockdowns, and COL fell 1.6% with TPG down 2.6 % and REA down 1.5%. In corporate news, BLD up 5.8% on director appointments. A2M down 11.4% after warning revenues in 1H would be materially lower than planned. RSG improved 5% following the cancellation of further strike action at its Syama Gold mine in Mali. OVH up 4.5% after IRE upped its bid to 43c from 40c. No economic data. 10-year yields fell to 0.77%. AUD steady around 70.57c. Asian markets firm with Japan up 0.8% and China up 0.4%.
- ASX 200 down 13 to 5952
- High 5977 Low 5941. Narrow range, low volume.
- Big Bank Basket sees seller return down to $118.79.
- All Tech Index up slightly by 1.57%
- 24 trading days until the US election.
- Dow Futures up 100
- Gold falls to AUD$2636
- 10-year bond yield fall to 0.77%
- AUD steady at 70.57c
- Bitcoin rallies to $10888
- Asian markets firm with Japan up 0.8% and China up 0.4%.
- ALG +2.02% $3.6m fine for Dreamworld tragedy
- FAR – Suspension continues.
- CTD -% acquisition and capital raise coming.
- JAN +10.29% business update with EBITDA up 400% in Q1 FY 2021.
- SZL +5.50% US Target doing trials.
- ALD +0.51% CFO moves on.
- BLD +5.83% Seven Group gets two directors.
- IRE +1.05% OVH +4.46% increases offer to 43c in cash for OVH.
- A2M -11.42% SM1 -7.43% business update on Daigou and sales disruptions.
- 3DP +25.77% off to the races.
- CBR +12.11% media reports on wheel innovation.
- EML +7.04% US betting moves.
- MYQ +9.52% develops World first in-device DEXA Imagery capabilities.
- QAN +6.44% AIZ +7.44% Government support
- PBH +5.78% William Hill takeover approaches.
- MSB +12.02% results pending.
- BNO -11.59% ex entitlement.
- BTH +7.09% media reports.
- NVX -10.73% profit taking continues.
- MOC +15.93% responsible lending revamp.
- Speculative Stock of the Day: Piedmont (PLL) up 83.33% on a deal with Tesla for a fixed price volume of 160,000 tonnes of lithium with deliveries expected to start between July 2022 and July 2023.
- Biggest Winners: MSB, AIZ, EML, MYX, WEB. QAN and PMV.
- Biggest Losers: A2M, SM1, CMM, CWN, BKL, AAC and ORE.
- The a2 Milk Co. (A2M) -11.42% Guides H1 revenue between NZ$725-775m and FY revenue between NZ$1.80-1.90bn vs consensus NZ$2.07bn. Group EBITDA margin expected in the order of 31%. Disruption to the daigou / reseller channel, particularly due to the Stage 4 lockdown in Victoria weighing. Now expects revenues from Australia and New Zealand to be materially below plan for H1. Adds performance in all other areas of the business is strong, including liquid milk businesses in Australia and the USA. Local China business is also performing strongly, notably in Mother & Baby Stores (MBS).
- Resolute Mining (RSG)+4.95% Following the cancellation of further strike action at its Syama Gold mine in Mali, RSG has reinstated production guidance for the 12 months to December 31. Total production 400-430Koz of gold. AISC US$980-$1,080/oz. The total expected negative impacts on Syama for the September quarter is a delay in the production of approximately 15,000 ounces of gold.
- Iress (IRE) +1.05% Increases its offer for OneVue Holdings to 43c/share from 40c/share, declares offer best and final. The revised price is at the top of an independent expert’s valuation range of 36-43 cents per OneVue share and represents a 79% premium to the May 28 closing share price.
- Boral (BLD) +5.83% Appoints two nominees of Seven Group Holdings as non-executive Directors effective September 28.Seven Group Holdings and its associated entities now hold a relevant interest in up to ~19.9% of the shares of Boral and the board considers a level of proportionate representation on the board appropriate. SGH has nominated Ryan Stokes and Richard Richards to the board as nominees of SGH. Boral has also added Rob Sindel and Deborah O’Toole as new independent non-executive Directors.
- Panoramic Resources (PAN) -2.04% CFO Mike Ball resigns to pursue other business opportunities. Grant Dyker appointed replacement.
- Westpac’s Bill Evans has now pushed his rate cut call back from October to November as it had predicted only last week.
COVID – 19 NEWS
- India’s coronavirus infections crossed the 6m mark.
- Beijing’s city government is requiring companies to stop importing frozen food from countries with serious coronavirus outbreaks.
- U.K. is preparing to enforce a social lockdown across much of northern Britain and potentially London.
- Brazil reported 14,318 cases, after a week in which the nation had the lowest number of infections since June.
- Russian CV19 double to 2,000 new infections. So much for that vaccine.
- New Japanese PM Suga has talked down an early election despite his lead in the polls.
- Beijing Car show opens with an electric Mustang and a flying car prototype on display.
- HSBC jumps the most since 2009 after Ping An Insurance bought another 10.8m shares to bring its stake up to 8%.
- Kioxia’s US$3.2bn IPO on hold.
EUROPEAN AND US HEADLINES
- European markets set to open around 1% higher.
- Next round of Brexit talks kicks off in Brussels as dealine approaches.
- Trump’s ban on TikTok is temporarily blocked by Federal Judge.
- US hits SMIC was export restrictions.
- Media reports Trump paid hardly any tax in 2016 or 17. No income tax for 11 years.
- Sports betting in focus in US after Caesars and Apollo battle for control of William Hill.
- EU companies warned of 700k job losses in no deal Brexit. Negotiations down to the wire.
I paid $50 for a camouflage jacket
Now I can’t find it
Found it…Need to leave the label on to find it next time.