ASX 200 up 37 to 7523 (0.5%). Japanese PM resigns over CV19. Jobs number tonight.

HIGH  7539 LOW 7486

ASX 200 rallied hard, but interest waned a little to close up 37 points at 7523 ahead of crucial jobs numbers tonight. Uranium stocks in focus and huge pops in some like PDN up 24.0% and VMY doing well up 23.1%. Banks were firm with the Big Bank Basket up to $184.43. Iron ore stocks also recovering, BHP up 1.0% and RIO up 2.5%. Base metal stocks and lithium doing well, ORE up 7.0% and MIN up 2.7%. Healthcare better as CSL rose 0.1% and SHL up 1.2%. Industrials rose with consumer stocks firm though tech fell led by APT down 2.8% and the All–Tech Index down 0.4%. On the economic front, retail trade for July fell 2.7% month-on-month, to be down 3.1% over the year. FCAI reports Australia August new vehicle sales of 81,199, +33.1% from a year ago.

MAJOR MOVERS:

Winners: PDN CTT AVZ FZO ERA INR LTR ORE.

Losers: BGL AEF MYX OCL BBT BET SWM.

  • POSITIVE SECTORS: Banks. Healthcare. Industrials. Resources. Uranium.
  • NEGATIVE SECTORS: Tech
  • BIG BANK BASKET: Rises to $184.43
  • ASX 200 rises 35 points this week.
  • ALL -TECH INDEX: Down 0.4% APT down 2.8%.
  • GOLD: Weaker at AUD2446.
  • BITCOIN: Higher at US$49603.
  • AUD:  Firms to 74.05c. 10-YEAR YIELD: Rises to 1.22%
  • ASIAN MARKETS: Tokyo up 2.0% Hong Kong down 0.7%. China down 0.4%.
  • US FUTURES: Dow futures up 40 NASDAQ up 21. European Futures flat.

STOCKS ON THE MOVE

  • PDN +23.81% uranium on fire.
  • CTT +22.39% high priced T shirts in favour.
  • LTR +7.49% Investor presentation.
  • WHC +6.77% change in substantial holding.
  • ERA +10.53% glowing.
  • AWC +6.68% aluminium price strength.
  • HMC +5.35% just keeps on going higher.
  • FZO +10.67% brokers warming after acquisition update.
  • BGL -9.52% placement at 85c weighs.
  • AEF -5.73% tide has turned again.
  • SWP +14.77% doing well again. Spenceley strikes again.
  • BBT -3.89% profit taking.
  • APT -2.77% cooling. Facebook Pay may be issue too.
  • DDR -2.98% profit taking.
  • AKP -2.16% nearly 10,000 traded.
  • VMY +23.08% back with a vengeance.
  • MNS -7.59% change of director’s interest.
  • PEN +17.65% uranium stocks on a burst.
  • KNI -8.84% meme stocks move on to Uranium.
  • AMA -5.62% smashed on media speculation on strategic moves.
  • AGE +15.38% snappy day on uranium.
  • Speculative Stock of the Day: Valor Resources (VAL) +36.36% big volume and shaping up as a meme stock next week.

ANNOUNCEMENTS

  • Huon (HUO) -0.26% and Tassal (TGR)+0.83%WWF Australia CEO acknowledges that the Tasmanian salmon industry is not environmentally sustainable. The charity previously endorsed Tassal but has released a negative review into the sustainability certification practices of both Tassal and Huon.
  • FINEOS Corporation Holdings (FCL) +1.10% Launches placement and SPP to raise up to $65m at 430c. Funds will primarily be used to support FINEOS’ opportunity pipeline and provide working capital and balance sheet support for planned R&D investments and organic and inorganic growth opportunities
  • Vulcan Energy Resources (VUL) +3.50% Full-year profit -$10.8m vs year-ago -$3.6m. Revenue $632K vs year-ago $95K.
  • AMA Group (AMA) -5.62% Replied to media speculation; currently undertaking a capital structure review to manage disruptions from Covid-19. The Group may undertake capital markets initiatives in order to enhance balance sheet flexibility, diversify funding sources and extend the duration.

ECONOMIC NEWS/ BOND MARKETS

ECONOMIC DATA

  • Retail trade for July fell 2.7% month-on-month, to be down 3.1% over the year.

CV19 NEWS

  • Victoria to shift from lockdowns to lockouts.
  • Federal health has secured another 4m Pfizer shots.
  • Amazon says the current Australian lockdowns are creating supply chain issues. Woolworths and other under pressure on Click and Collect and deliveries too.

ASIAN MARKETS

  • SMIC aims to spend US$8.87bn building a new plant on the outskirts of Shanghai. SMIC has signed an agreement to establish a 100,000 per-month wafer plant in the Lin-Gang Special Area.
  • China will ban celebrities with incorrect politics. It will ban stars, cap salaries and quash celebrity culture. Can he start with the Kardashians?
  • Japanese PM Suga will resign and not seek re-election at months end. Stocks rally to three-decade high.
  • According to data from the World Data Lab, 1bn Asians will join the middle class by 2030.
  • China Caixin PMI Services for August fell to 46.7 from 54.9 in July, well below expectations of 52. The change marked the lowest reading since April 2020. Below 50 denotes contraction in activity.

US AND EUROPEAN NEWS

  • US NFP jobs number tonight 5.2% unemployment and 750,000 jobs added. Bad is good and good is good?
  • European markets showing a very quiet start to the session.
  • Cathie Wood’s ETF sells HDFC for first time since May.
  • Abba is back. New album to be released in November. Two singles now. Concerts to happen too.
  • Hurricane Ida is driving the infrastructure stimulus push.
  • One hedge fund manager will pay back taxes to the tune of US$670m. The fund will pay atound US$7bn.
  • Germany’s SPD ahead by 5% over CDU/CSU.
  • Canadian PM Trudeau is finding holding an election during CV19 is not a great idea.
  • US Regulator has grounded Virgin Galactic fleet over flight anomaly.
  • JP Morgan to pay EUR 25m to settle tax fraud case in France.
  • WhatsApp fined EUR 225m for not telling users how it shared data with FB.

Have a great weekend. Happy Father’s Day.

And finally,

When two airplanes almost collide why do they call it a near miss and not a near hit?

I went to a bookstore and asked the saleswoman where the Self Help section was, she said if she told me it would defeat the purpose.

Why do they put Braille on the drive through bank machines?

What was the best thing BEFORE sliced bread?

Thanks to Noel and Adam for these gems.

Clarence

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