ASX 200 pushed 38 points higher to 7860 (+0.5%) for a third day of gains. Up 2.1% this week. Today resources took up the running, the Three Amigos of Iron ore kicked higher, BHP up 1.1%, and FMG rallying 1.3%. Gold miners were also in demand on bullion highs, NEM up 2.9% and EVN up 1.8%. Base metals slightly higher 29M up 6.0% with lithium stocks mixed, PLS down 2.9% and MIN down 1.0%. Oil and gas slightly better with WDS up 0.4% and STO rallying 0.4%. Banks pushed a little higher at the close, solidifying recent gains, the Big Bank Basket better at $216.93 (+0.5%). MQG a little better, and Insurers are once again in demand, QBE hitting highs up 0.9%. Industrials generally firm but unexciting. WES managing a kick along up 1.3%, and WOW and COL better. Tech mixed with the All–Tech Index up 0.5%. Healthcare mixed, CSL down 0.2% and RMD up 0.5%. In corporate news, GQG rallied 2.3% on very positive FUM news, 360 fell 6.1% in its US IPO listing, PWR appointed a new CEO. In economic news, we had some household spending data, and the Reserve Bank of India (RBI) kept rates unchanged. Asian markets were weaker, with Japan down 0.1%, HK down 0.7%, and China off 0.3%, with the European market expected to open slightly lower. 10-year yields at 4.23%, and the Aussie dollar edged higher, up 0.1% to 66.72c. Dow and NASDAQ Futures both up 0.2%

HIGHLIGHTS

• Winners: RSG, IEL, CTT, PGC, BOE, GMD, RRL
• Losers: 360, NXL, AQZ, LRS, IPX, FCL
• Positive sectors: Banks. Financials. REITs. Consumer Staples. Gold Miners. Iron ore.
• Negative sectors: Lithium.
• ASX 200 Hi 7862 Lo 7778.
• Big Bank Basket: Rallies to $216.93 (+0.5%)
• All-Tech Index: Up 0.5%
• Gold: Higher at $3564
• Bitcoin: Steady at US$71367
• 10-year yields steady at 4.23%
• AUD: Steady at 66.70c.
• Asian markets lower, Japan down 0.2%, HK down 0.4% and China off 0.7%
• Dow futures up 65 NASDAQ Futures up 31

MAJOR MOVERS

• RSG +7.3% bullion rise spurs rises.
• IEL +5.7% broker research. Short covering too.
• CHN +5.5% commodity rise.
• CTT +4.4% short covering.
• BOE +3.9% small uranium bounce.
• NVX +9.3% market update.
• PYC +10.0% PMS drug candidate effective in human brain cells.
• 360 -6.1% US listing and cap raise.
• LRS -4.1% profit taking.
• ATR -8.8% profit taking.
• Speculative Stock of the Day: LTP +25.8% This follows promising trials for a nasal spray for erectile dysfunction. Only 18 men have dosed so far, but there are good trial results.Solid result.

COMPANIES

ECONOMIC AND OTHER HEADLINES

Australian Monthly Household Spending Indicator – Key statistics.

• Household spending increased 3.4% through the year on a current price, calendar-adjusted basis.

Throughout the year, household spending increased for services (+6.9%) and decreased for goods (-0.7%)

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• Chinese Exports climbed 7.6% last month, beating economist forecasts.

• Investment by Chinese firms into Europe fell to the lowest in more than a decade last year, with most of the new money going into electric vehicles and related industries.

• Chinese EV company Nio plans to expand to the Middle East this year. Nio launched a lower-priced brand called Onvo in May and is working on an even lower-priced brand called Firefly.
• EU Elections continue for second day.
• Former Autonomy chief Mike Lynch acquitted in US fraud trial.
• Ukraine ready for EU membership talks, Brussels says.
• Long weekend in Australia. NFP tonight. 180k is the key number.

And finally…..

Clarence

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