The ASX 200 roared today up nearly 100 closing at 6763 with 8 stocks accounting for 50% of the rise. Dow Futures up 156 points. RBA leaves rates unchanged, bullish on economic activity but extends bond-buying program. No rate rises until 2024. Sprinting out of the blocks this morning and building from there, banks led the market higher as the Big Bank Basket rallied again to $156.60. CBA up 2.3% and ANZ up 1.2%. MQG joined the party up 1.6% and insurers didn’t want to be left out, QBE up 2.3% and IAG up 0.21%. Big miners in the spotlight, BHP up 2.2% and FMG up 2.0% on broker talk.  Industrials also ran hard, ALL up 3.0% and TCL running 3.4% higher. Healthcare though returned to the sick bay with CSL down 1.3% as the selling continues. FPH dropped 1.7% though SHL up 2.6% and RHC up 2.7%. Tech stocks in a rush today, APT up 7.9% and WTC up 4.2%. Silver stocks saw losses today as Reddit traders found it harder to push a commodity around, lithium stocks were depressed, we saw uranium stocks shine on hopes that Biden will push out nuclear power plant closures. In corporate news, TAH confirmed that it had had approaches for its wagering business, the stock rose 8.8%. A2M down 3.1% on CEO appointment, it was announced back in August. CCP up 8.8%, H1 profit coming in ahead of estimates. HUO down 12.1%, warns on earnings and impairments. TPW down 4.6%, unaudited first half result clearly missing market expectations. 10 year yields around 1.11%. AUD stable despite RBA moves. Asian markets push higher with Japan up 0.87% and China up 0.65%.

Today’s Highlights

  • ASX 200 up 100 to 6763. Average volume
  • High 6775 Low 6680
  • RBA keeps rates on hold. Extends bond buying and optimistic on GDP outlook
  • Rates on hold until 202
  • Big Bank Basket rallied hard to $156.60
  • All Tech up strongly by 3.4%
  • Dow Futures up 156
  • Gold unchanged at AUD$2432
  • 10-year yield slip to 1.11%
  • AUD slips to 76.30c
  • Bitcoin steady at US$33,645
  • Asian markets push higher with Japan up 0.87% and China up 0.65%


  • TAH +8.78% confirms offer for wagering arm.
  • WPL +2.16% Myanmar drilling could be under threat. Monitoring situation.
  • AZJ unchanged FIRB approvals.
  • NST +0.69% SAR -0.20%% court approval for merger.
  • S32 +5.68% Hi Ho Silver surge.
  • RNT +202.33% Bevan Slattery buys in at 5c.
  • PDN +30.77% PEN +29.17% ERA +2.33% as Broker suggests Biden will not close nuclear power plants.
  • WAM +0.45% funds beating benchmarks.
  • VUL – trading halt – capital raise.
  • SVL -26.03% IVR -20.87% profit taking after silver blip.
  • CXL +5.63% overhang placed at 120c.
  • A2M -3.15% new CEO commencement date.
  • WEB +7.46% short covering.
  • URW -7.07% short squeeze abates.
  • CCP +8.83% returns of dividends.
  • ABY +6.54% thin volume.
  • SLX +7.76% uranium hopes.
  • TLS +0.32% quits NRL and AFL streaming.
  • Speculative Stock of the Day: Polarx (PXX) +40.62% good volume as sampling returns high grades of up to 37g/t Au and 1590g/t Ag at Humboldt Range in Nevada.
  • Biggest Winners: PDN, NVX, CCP, TAH, A{T, WEB, NEC, SWM and MMM.
  • Biggest Losers: URW, HT1, OMH, TPW, ABR, PLS, PLL and LFG.


  • A2 Milk (A2M) -3.15% David Bortolussi to commence MD and CEO role on February 8. The appointment was announced in August last year.
  • HUB24 (HUB) +6.13% Declares 1-for-3 off-market takeover offer for Easton Investment unconditional. Easton’s directors representing 9.07% interest have accepted HUB24’s offer and unanimously recommend shareholders accept the offer. HUB 24 now holds 18.75% of Easton shares.
  • Motorcycle Holdings (MTO) -1.93% Expects H1 underlying EBITDA between $26-27m vs prior guidance $23-25m and consensus $30.5m. Strong sales growth, improved margins and cost control continued in H1 leading to solid financial performance across all business divisions. Online sales saw significant growth.
  • QBE (QBE) +2.35% reportedly still in the running for CBA’s general insurance business. Sources suggestIAG and Suncorp remain in the best position to acquire CommInsure but QBE is still in the race should the main two encounter any ACCC issues.
  • Link (LNK) +2.47% Large pension funds could join bidding consortiums for PEXA. Newswires speculate a number of pension funds are showing heightened interest and could participate with existing bidders for Link Administration’s $1bn+ PEXA stake. Buyout firms are understood to be conducting due diligence with a mooted price nearing 380c/share.
  • Temple & Webster (TPW) -4.62% Unaudited first-half adjusted EBITDA $15.3m vs year-ago $2.7m. Revenue $161.6m vs year-ago $74.1m. Active customers +102% to 687k. Outlook: H2 has started strongly, with January’s revenue growth tracking in excess of 100%.
  • CBA (CBA) +2.26% 17 basis point uplift to (CET1) ratio will be recognised in 1H21 from the BoCommLife divestment. On completion of the Aussie Home Loans merger with Lendi, CBA will retain a 45% shareholding, with existing Lendi shareholders holding the remaining 55%. Not a major business component for CBA. Notes simplifications have been made to CBA’s operating model during which result in changes to comparative financial information. These changes have not impacted CBA’s cash NPAT, but result in changes to the presentation of the Divisional Income Statements and Balance Sheets of the affected divisions.
  • Credit Corp. Group (CCP) +8.83% H1 profit $42.3m vs year-ago $38.6m and consensus $37.9m. Revenue $188m vs year-ago $190.9m and consensus $178m. All segments either met or exceeded expectations. Interim dividend 36cps. FY Guidance (Jun 2021): sees profit between $85-$90m vs prior guidance $70-$85m. Sees purchased debt ledger (PDL) acquisitions $310-$330m vs prior guidance $270- $330m. Favourable operational performance has produced a strong start to FY2021 and this is expected to continue over the balance of the year. To acquire Australian ledger book of Collection House Ltd for ~$160m.
  • Centuria Industrial REIT (CIP) – First half funds from operations (FFO)/unit 8.8c vs consensus 9c. Revenue $73.2m vs year-ago $54m. FFO $42.8m vs year-ago $30m. Statutory profit $99.6m vs consensus $31.5m. FY21 guidance: FFO of no less than 17.6cpu vs prior guidance of 17.4cpu. Distribution remains 17cpu which will be paid in equal quarterly instalments.
  • Huon Aquaculture Group (HUO) –12.09% Full-year EBITDA to be substantially lower vs year ago. Challenging market conditions persisted throughout H1, sales volumes ~19,290t. ~40% of volume sold into lower-priced export spot market. Expect to recognise material impairment and asset write-down charges in H1. Production costs, excluding freight, are tracking in line with $9.50/HOG kg target, however, distribution costs continue at elevated levels. December fish loss of 130K smaller salmon and November loss of ~50K 4kg fish to combine for $1.8m loss in H1.
  • Tabcorp (TAH) +8.78%Confirms it has been approached in relation to a potential transaction involving it’s Wagering and Media business. The proposals were expressed to be confidential, indicative, non-binding and subject to numerous conditions including due diligence and various regulatory approvals. There is no certainty that any transaction will occur.


  • RBA policy decision: The Board decided to maintain the targets of 10 basis points for the cash rate and the yield on the 3-year Australian Government bond, as well as the parameters of the Term Funding Facility. It also decided to purchase an additional $100bn of bonds issued by the Australian Government and states and territories when the current bond purchase program is completed in mid-April. These additional purchases will be at the current rate of $5bn a week. “The economy is expected to operate with considerable spare capacity for some time to come,” said RBA governor Philip Lowe.
  • For the complete media statement click here.



  • Vaccine Tracker: More than 101 million shots given worldwide.4.25m a day. In US 32.8m shots given. Average 1.34m a day.
  • Australian company Ellume was chosen by the US for a big at-home test order.
  • Japanese Prime Minister Yoshihide Suga is set to extend a state of emergency to March 7


  • Jack Ma has been left off the list of Chinese media’s list of tech whizzes.
  • Japan believes that nuclear is critical to hit zero goal by 2050.


  • GameStop’s shorts have been covering hard. Shame the company has not raised any money given its share price rise. Shorts now only 53% of the available shares rather than 140% Not quite sure how you short a short. Maybe two shorts make a long?
  • Robinhood has tapped his merry men to raise another US$2.4bn in second cash injection in four days to cover margin and collateral requirements.
  • Biden kicks off discussions for US$1.9 trillion stimulus package.
  • One SPAC has found its target backing in Tilman Fertitta in going public 11 years after he took his restaurant business private. Fertitta Entertainment, which includes Golden Nugget casinos and Landry’s restaurants will be backed into a SPAC and includes a US$1.24bn fund raiser to reduce company debt to around US$3bn.

And finally …

My wife is really mad at the fact that I have no sense of direction. So I packed up my stuff and right!”

“What concert costs just 45 cents? 50 Cent featuring Nickelback!”

“Did you hear about the guy who invented the knock-knock joke? He won the ‘no-bell’ prize.”

“What’s brown and sticky? A stick.”

“If a child refuses to sleep during nap time, are they guilty of resisting a rest?”