ASX 200 rose 24 points to 7253 as iron ore rise drives the market from negative to positive. Quiet conditions with Chinese stability helping sentiment. Iron ore hit US$100 in Singapore pushing BHP up 2.1%, FMG up 2.2% and RIO up 3.5%. Base metals rose slightly, S32 up 3.0% and MIN doing well up 2.4%. Lithium stocks found some buyers but conviction remains low. Gold miners under a little pressure as USD rises, NCM down 0.1% and NST off 0.5%. Energy stocks mixed with WDS off 0.4% and STO up 1.1% on its BKW deal. Old king coal a very mixed soul, WHC down 1.8% and YAL up 0.4%. Banks were flat with CBA down 0.4% dragging the Big Bank Basket to $188.52. Other financials drifted off, MQG down 0.3% and ASX off 4.7%. Industrials slightly weaker in thin trade. WES fell 0.3%, ALL down 0.8% and REITS slipped slightly, GMG down 1.2%. Healthcare was firm led by CSL. RHC up 0.9% on its AGM and FPH doing well on its results up 9.8%. Tech stocks going nowhere, XRO up 1.0% and the index unchanged. In corporate news, CKF dropped like a hot bucket of chicken down 19.8% on inflation-biting margins. Some presentations around in CIA and AGY and in economic news, consumer confidence is picking up a little after the budget. Asian market better after the weekend of protests in China. HK up 3.9%  10 year yields steady at 3.61%.


  • Winners: FPH, ACL, AGY, PBH, MAD, NAN, BGL, SYR
  • Losers: CKF, RNU, LFG, OBL, MGH, GNC
  • Positive sectors: Iron ore. Banks. Healthcare. Lithium.
  • Negative sectors: Industrials. REITs. Oil and Gas.
  • High 7254 Low 7201
  • Iron ore hits US$100 in Singapore.
  • Big Bank Basket: Closed up at $188.52
  • All-Tech index: Unchanged.
  • Gold steady at $2614
  • Bitcoin: Steady at US$16,267
  • Aussie Dollar: Higher at 66.99c
  • 10-Year Yield: Steady at 3.61%
  • Asian markets: Japan down 0.7%. HK up 4.1% China up 2.1%
  • US Futures: Dow up 70 Nasdaq up 54.


  • FPH +9.84% good results cheer.
  • PBH +5.79% World Cup bounce.
  • AGY +6.25% Macquarie presentation.
  • BGL +4.66% presentation.
  • CIA +3.50% iron ore price and presentation.
  • GTK +14.88% investor presentation.
  • AGI +9.05% pulls cherries. AGM presentation.
  • 4DX +4.44% receives $9.4m from MRFF.
  • CKF -19.82% finger-licking bad as inflation bites.
  • MGH -4.92% under pressure.
  • CCX -8.78% broker downgrades.
  • Speculative Stock of the Day: Microba (MAP) +52.27% deal sees SHL take a near 20-% stake. Good volume and clearly a vote of confidence and gives SHL some optionality. No other speculative stocks with any volumes today. Saying something about the market.


  • SRG Global Limited (SRG) – SRG Global Limited has secured a specialist facades contract in Melbourne valued at ~$30m. The contract will start immediately and is expected to be complete in 2025.
  • Collins Foods Limited (CKF) -Collins Foods Limited held their AGM, Results as follows: revenue up 15% to $614.3m across all business units, statutory NPAT down at $11.0m vs year ago $26.4m.
  • Sonic Healthcare (SHL) – Has acquired a 19.9% stake in Microba for $17.8m and has entered a strategic partnership. SHL is also seeking to acquire options for an additional 5% equity stake.
  • Fisher & Paykel Healthcare (FPH) – Has released half-year results for FY23, reporting a $690.6m total operating revenue, an increase from the $670m guidance given in the August trading update. Revenue was down from the previous corresponding quarter 27%. CEO Lewis Gradon has said “Consistent with what we signalled in August, first half revenue was down on the prior corresponding period as we lapped significant COVID19-driven demand. Compared to pre-pandemic levels, this represents solid growth.”
  • Nearmap (NEA) – ASIC has granted Nearmap an extension of time by which the company must hold its annual general meeting. the scheme remains subject to the approval of the Federal Court of Australia at the hearing scheduled for 10:15am (Sydney time) on December 5th.
  • Poseidon Nickel (POS) has been placed in a trading halt pending an announcement regarding a capital raising.
  • Woodside (WDS) -2023 guidance after completing a review of its corporate plan. The company’s full-year capital expenditure guidance is $US6bn to $US6.5bn Full-year production guidance is set at 180m to 190m barrels of oil equivalent. Woodside expects around 20 to 25% of its 2023-produced LNG to be sold at prices linked to gas hub indices.
  • Blackmores (BKL) – expects spending on vitamins and supplements to remain resilient to economic slowdowns. Freight and supply chain costs had started to fall over the past three to four months after recent surges, indicating that cost price inflation may start to ease off. Raw material costs have increased over the past year, but Blackmores has managed to cover most cost price inflation increases so far.


  • Consumer confidence rose 1.8% last week, marking its third straight weekly gain, according to an ANZ and Roy Morgan survey.


  • Chinese government health officials were due to hold a briefing at 3pm (6pm Sydney time) on the implementation of COVID-19 prevention and control measures.
  • Iron ore futures in Singapore have climbed above $US100 per tonne for the first time since September.
  • Chinese stocks rebounded as regulators ramped up liquidity support for developers and a semblance of calm returned after protests against COVID-19 restrictions rocked markets.
  • Japanese crypto company Bitfront has closed on the ‘rapidly evolving’ challenges.
  • Mainland China reported the first decline in daily Covid infections in more than a week on Monday. local infections, Mostly asymptomatic cases, totaled 38,421, down from a record high of 40,052 reported for Sunday


  • Global yield curve inverts in signal a recession is brewing.
  • Elon Musk claimed on Monday in a series of tweets that Apple had threatened to remove the Twitter app from the App Store.
  • President Volodymyr Zelenskyy said the country must prepare for new missile attacks from Russia and subsequent power cuts.
  • BlockFi sues Sam Bankman-Fried over Robinhood shares.
  • Top Fed official warns US unemployment could hit 5% next year.
  • Cathie Wood says Bitcoin will be $1m by 2030. Dreamin’. Maybe market cap.

And finally….