The ASX 200 finished up 9 to 7379 in a topsy turvy day. Banks once again the swing vote with the Big Bank Basket down to $175.80 (-1.3%) as CBA fell another 1.6% and NAB down 0.7%. Insurers and financials bucked the downdraft with MQG up 1.1% and IAG putting in a strong day, up 3.4%. Elsewhere industrials fared better with TLS up 2.0% TCL up 0.7% and WOW rising 1.1%. Healthcare too taking its medicine and feeling better, CSL up 1.1% and SHL rising 3.0%. Tech mixed with the All Tech Index inching higher by 0.2% despite APT down 1.1%. REITs firmed led as usual by GMG up 1.8%. Miners were firm despite commodity prices with BHP up 0.2% and RIO putting on 0.7%. Gold miners were well sought as EVN bought out remaining Ernest Henry stake with brokers liking the deal and the stock up 9.7%. Energy stocks on the wane as oil prices slipped on a coordinated approach from US and China to release some of their strategic stockpiles. In corporate news, ALL down 3.6% on results and the extended timeline for the popular Playtech takeover. EVN helping the sector higher on its acquisition, a few AGMs around again with AAC easing back 7.0% after comments, MNS saw some board room reshuffling after ASIC inquiries, down 5.6%. TWE doubled down on the US with its $314m acquisition of Frank Family Wines, rising 2.6%. 10-year yields slid back slightly to 1.80%
MAJOR MOVERS:
- Winners: EVN, DEG, TLX, EMR, NUF, APX, WAF, IMU.
- Losers: AAC, MNS, CTT, APM, IHL, KAR, WHC, CXL, BOE.
- Positive sectors: Gold miners. Iron ore. Healthcare. Industrials. REITs. Tech.
- Negative sectors: Banks. Pokie machines. Energy.
- Hi 7398 Lo 7344.
- Oil below US$80. China working on crude release.
- Big Bank Basket: Lower at $175.80 (-1.3%)
- All-Tech index: Up 0.2% APT down 1.1%
- Gold: Higher at AUD2566
- Bitcoin: Consolidating at US$59838
- Aussie Dollar: Steady at 72.73c. 10-YEAR YIELD: Slips to 1.80%.
- Asian Markets: Japan down 0.7% Hong Kong down1.4% and China down 0.6%.
- US Futures: Dow futures up 10 NASDAQ futures up 38.
STOCKS ON THE MOVE
- EVN +9.73% takes out balance of ErnestHenry.
- NUF +5.23% Macquarie upgrades after falls.
- APX +5.19% bottoming.
- DEG +6.58% gold price moves higher.
- LTR +4.32% back on track.
- UMG +3.20% bounces back.
- STM +52.17% Bramaderos – high grade gold drilling.
- PDI +12.24% hitting highs.
- EPY +9.52% AGM presentation and material uplift.
- VMY +8.16% strategic review
- IXR +6.67% rare earths back in fashion.
- AAC -7.06% AGM commentary.
- APM -5.23% slide continues.
- MNS -5.56% board resignation and management
- KAR -5.05% oil price weakness.
- CXL -4.38% profit taking.
- MSB -4.17% optimism wearing off quickly.
- CTT -5.30% trading update.
- HTG -11.29% jobkeeper payments notice.
- PNR -5.71% consolidating.
- TNG -7.06% comments on EverBlu
- LEG -7.27% Mawson drilling update.
- ACQ -7.73% ex dividend and then some.
- Speculative stock of the Day: Fatfish Group +37.61% ASX speeding ticket cited iCandy (ICI), a holding, and a significant acquisition.
IN THE NEWS
- Goodman Group (GMG) reiterates FY22 EPS growth of over +15% vs year ago at AGM. Added it has experienced a strong start to FY22.
- Emeco Holdings (EHL) guides first-half operating EBITDA $120-125m. Added it was comfortable with FY22 outlook given at FY21 results.
- Johns Lyng Group (JLG) reconfirms FY22 guidance at AGM. Sees EBITDA of $60.1m vs consensus $69.6m.
- humm group (HUM) plans to more than double FY21 volumes to deliver over $100M in Cash profit per annum
- Sigma Healthcare (SIG) appoints Jeff Sells as interim CFO.
- Cettire (CTT) provides 4-month year to date trading update, gross revenue $78.9m vs year-ago $27.8m.
- Sonic Healthcare (SHL) 4-month trading update, revenue to the end of October $3.09bn vs year-ago $2.94bn.
- Bluescope Steel (BSL) reiterates first half underlying EBIT between $2.1-2.3bn vs year-ago $530.6m.
- Altium (ALU) repeats FY guidance at AGM.
- Treasury Wine Estates (TWE) to acquire Frank Family Vineyards for $434m.
- Medibank Private (MPL) aiming to achieve at least 3% policyholder growth in FY22.
- Mineral Resources (MIN) provides project and guidance updates at AGM. Yilgarn production expectations downgraded to 8.0-8.5Mt vs prior 10.5-11.0Mt.
- Australian Agricultural Co. (AAC) first half statutory profit $83.2m vs year-ago -$1.7m.
- Tietto Mineral (TIE) – raising $70m to develop West African gold project.
- Aristocrat (ALL) – expecting to close its Playtech acquisition by late 2022. Revenue in the year ended September 30 rose 14.4% to $4.74bn, buoyed by growth across both Aristocrat Gaming and the Pixel United businesses
ECONOMIC NEWS/ BOND MARKETS
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- A survey of inflation expectations from the Reserve Bank of New Zealand (RBNZ) showed in October a sharp rise on a one-year horizon to 3.7%, from 3.02%.
CV19 NEWS
- Dr Bill Gates says CV19 deaths may drop to flu like levels by Mid 2022.
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ASIAN MARKETS
- Chinese tennis star Peng Sjuai is still nowhere to be found.
- Japan will unleash a new round of stimulus with cheques sent to families.
- China considering releasing some strategic oil reserves.
US AND EUROPEAN NEWS
- Mastercard will continue to develop its relationship with Amazon.com. Amazon has stopped taking Visa card payments in the UK.
- Biden has demanded a probe into the US oil and gas sector as petrol prices soar.
- The US regulator has raises some concerns over Nvidia acquisition of Arm.
- The EU has agreed on rules to rein in Big Tech companies from next year.
- David Cameron (Ex UK PM) has quit his role as an adviser to Afiniti after allegations against the CEO.
- ECB warns of ‘exuberance’ in housing, junk bonds and crypto.
- The Crypto exchange Gemini Trust founded by the Winklevoss twins is seeking funding valuing it at US$7bn
And finally…..

Clarence
XXX