The ASX 200 quietly firm up 6 points to 7412 (0.1%). Banks and materials firing up again ahead of budget tomorrow night. The Big Bank Basket rose to $189.87 with NAB up 0.8% and MQG doing well up 1.1% as SUN rallied 1.2%. ASX up 0.4% despite delays to CHESS with GQG down 1.5%. Healthcare down as dollar earners under pressure, CSL down 1.1%, COH off 3.2% and FPH continuing lower by 3.5%. REITS slipped led by GMG down 2.9%. Industrials weaker across the board, TLS down 0.8%, REH off 2.3%, WES falling 1.3% and SEK down 3.9%. TECH down heavily with the All Tech Index off 2.5% as WTC fell 4.1%, XRO down 5.2% and SQ2 off 3.7%. Different story in commodity stocks, BHP up 2.3%, FMG up 0.8%, S32 better by 2.0% and rare earths in demand, LYC up 2.2% and ARU doing well up 15.3%. Some profit taking in lithium stocks with LTR down 4.7%. Energy stocks mixed as crude fell in Asian trade, OPEC plus meeting Thursday, WPL down 1.3% and STO unchanged. In corporate news, SGR MD fell on his sword as the review of the casino continues rising 0.3%. Nothing on the economic front ahead of Budget tomorrow. In Asian trade, mixed session, HK up 1.3%, China down 0.8% and Japan down 0.4%. 10-year yields soaring again to 2.90%


  • Winners: LFG, BCI, APM, ZIM, STA, AVZ, MCR
  • Losers: AGY, IHL, MNS, TUA, ASM, BET
  • Positive sectors: Banks. Miners. Rare earths.
  • Negative sectors: Healthcare, REITs, Industrials. Tech
  • Hi 7447 Lo 7412. Narrow range.
  • Big Bank Basket: Rises to $189.87(0.6%)
  • All-Tech index: Down 2.3%
  • Gold: Falls to $2587.
  • Bitcoin: Rises to US$47003
  • Aussie Dollar:  Rises to 75.28c 10-YEAR YIELD: Soaring to 2.90%. Helps banks.
  • In Asian trade, mixed session, HK up 1.3%, China down 0.8% and Japan down 0.4%.US Futures: Dow down 80 – Nasdaq down 57


  • 88E +3.03% optimists abound.
  • APM +7.04% announces contract awards.
  • MCR +3.95% nickel play.
  • AVZ +3.95% continues to push higher.
  • ARU +15.25% rare earths drawing buyers.
  • LCK +9.68% finally some action as name change looms. NeuRizer from end of month.
  • POD +9.89% investor presentation.
  • URF -44.93% executes purchase and sale agreement.
  • GCY -16.90% equity raising presentation.
  • RXM -5.26% options exercise.
  • IHL -7.81% volatility continues.
  • AGY -8.05% profit taking.
  • RNU -5.08% Siviour battery anode project update.
  • BRN -5.73% Brain fade.
  • NMT -6.09% invests in US Battery start up – Tyfast.
  • XRO -5.16% slips under tech pressure.
  • FEG +25.00% IPO of the day with a solid first day gain.
  • Speculative stock of the Day: Tempest Minerals (TEM) +265.22% Meleya update – significant discovery at Orion target. Exciting new copper discovery with first hole drilled to 700m and visible copper intercepts.


  • CIMIC Group (CIM) board committee recommends takeover offer of $22 per share. The offer is in the middle of the independent expert’s estimated market value of between $19.26 and $25.05. The offer is expected to close on April 11.
  • The Star Entertainment Group (SGR)chief steps down in the midst of a review of the company’s operations. Bekier will resign from the board immediately but will transition his executive responsibilities in an orderly manner.
  • Bendigo and Adelaide Bank (BEN) has named a new CFO, Andrew Morgan.
  • Carnarvon Energy (CVN) looking to raise capital with a $70m raise at 30c. It is a fully underwritten institution placement to help finance Dorado development and progress its growth opportunities.
  • St Barbara (SBM) cuts group production guidance after COVID outbreak. The company had previously expected group consolidated production of 305,000 ounces to 335,000 ounces but withdrew guidance for Simberi in February after a significant rise in COVID-19 infections. The downgrade means full-year production guidance is set to be between 275,000 ounces and 290,000 ounces.
  • AMP Group (AMP) – AMP has completed the sale of its Global Equities and Fixed Income (GEFI) business to Macquarie Asset Management (MAM) for $63m. AMP remains eligible for a further cash earn-out up to $75 million payable after the second anniversary of transaction completion.
  • Gold Road Resources (GOR) – has cut its final dividend to 0.5c. The company’s revenue fell 19.9% to $274.8m while EBITDA slid 50.4% to $120.2mand net profit declined 44% to $36.8m



  • 53% of Japanese believe reactors should restart: Nikkei survey. Japan is the world’s second-biggest LNG importer, so a revival in atomic power there would have a big impact on global gas markets. Only 10 nuclear reactors have been restarted under post-Fukushima safety rules, but Japan’s 2030 energy goals requires nearly all 33 of them to be back online eventually.
  • Shanghai started a phased lockdown on Monday after posting a record number of new infections. Production at Tesla Inc.’s Shanghai factory was suspened for at least a day. There were 6,215 local cases reported Sunday in China, including 3,500 in Shanghai.


  • Jane Campion wins Oscar for Best Director.
  • White House deputy press Secretary Karine Jean-Pierre said she tested positive for Covid-19 on Sunday after returning from U.S. President Joe Biden’s trip to Europe.
  • Zelensky says Ukraine ready to discuss neutrality in peace talks.
  • Apple becomes the first streaming service to win a Best Picture Oscar for Coda.
  • Macquarie will pay GBP 4.2bn for a controlling stake in UK National Grid.  

And finally….