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ASX 200 finished flat at 7502. Xmas apathy took over despite a rally on Wall Street. Inflation numbers tonight but not expecting much. Banks were flat with the Big Bank Basket down to $189.53(-0.1%). The $190 level has been resistance in the past. Financials also slipped. MQG down 0.5% with insurers drifting slightly lower, QBE off 0.4%. REITs powered ahead with GMG up 0.7% and SCG rising 0.3%. 10-year yields once again under some pressure at 4.03%. Chinese yields hit a 30-year low. Industrials sagged, TCL down 0.4%, WES off 0.3% and TLS falling 0.3%. Tech slightly better with NXT up 0.5% and WTC moving 0.9% higher. Old Skool Platform stocks tickled higher with REA up 0.5% and SEK doing well. Retailers mixed. Always so. KMD fell again, LOV up 0.4% with APE bouncing back 2.4%. In resources, CXO collapsed 21.2% on a strategic review as lithium prices have been trashed this year. PLS up 3.0% and LYC up 2.9% on China rare earth moves, iron ore miners still firm FMG up 1.1% on a new high. Gold miners flat and oil and gas better. Plenty going on in the M&A space, PBP up 15.5% on a bid, A2B also getting a bid up 19.9% and ASB jumped 7.2% on a new US Navy contract. MIL raced 73.4% ahead with a bid too. Nothing on the economic front. US inflation numbers tonight another piece in the jigsaw. Asian markets better with Japan up 0.2%, HK up 1.3% and China up 0.7%.

HIGHLIGHTS

  • Winners: TUA, ASB, BOE, NEU, A4N, DYL, EMR
  • Losers: CXO, SYA, RED, LRS, ABG, MYR, LOT
  • Positive sectors: Lithium. Coal. REITs.
  • Negative sectors: Financials. Healthcare.
  • ASX 200 Hi 7522 Lo 7497
  • Big Bank Basket: Lower at $189.53 (-0.1%)
  • All-Tech Index: Up around 0.2%
  • Gold: Steady at $3023
  • Bitcoin: Better at US$44037
  • 10-year yields lower at 4.04%
  • AUD: Better at 67.81c
  • Asian markets: Japan up 0.2%, HK up 1.3% and China up 0.7%

MAJOR MOVERS

  • ASB +7.2% US Navy contract award.
  • BOE +6.6% DYL +5.1% uranium glowing.
  • NEU +6.5% buyers jump back in.
  • TUA +8.1% the quiet achiever.
  • WBT +2.2% bounces off lows.
  • LYC +2.9% China moves to limit RE Technology exports.
  • A2B +19.9% Taxi! A bid from Singapore.
  • PBP +15.5% a bid from Indonesia.
  • COS +3.9% low volume rally continues.
  • RMC +7.4% buyback update
  • CXO -21.2% Finnis-hed.
  • SYA -8.6% rally didn’t stock.
  • LOT -3.1% profit taking.
  • TLX -2.9% bit of profit taking.
  • SM1 -6.5% legal dispute with A2M
  • Speculative Stock of the Day: Millennium (MIL) +73.4% enters scheme of arrangement with Softbank Robotics at 115c.

COMPANY NEWS

ECONOMIC AND OTHER HEADLINES

  • Nike falls after hours.
  • Japan’s annual inflation rate fell to 2.8% in Nov-23, marking the lowest level since Jul-22, with the core inflation rate dropping to 2.5%, the lowest in 16 months.

Happy Xmas.

‘Have you tried turning it off and on again?’

Happy Christmas. Remember Santa comes but once a year, a fact you may find shocking, but when he does, lets hope he fills my stocking.

Clarence

XXX