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ASX 200 slipped 18 points to 7999 (+0.2%) as consolidation around 8000 the go. A big divergence again in banks and resources. RIO production numbers failed to launch, and the stock dropped 2.4%, with BHP under pressure too, down 1.4%. FMG showed a small rise. Lithium stocks remain depressed, and base metal stocks also eased, IGO down 0.7% and S32 off 1.4%. Gold miners holding up well, NST up 0.6% and NEM up 0.4%. Oil and gas mixed, and uranium stocks slipped back slightly. PDN down 1.6%, and BOE off 1.2%. Banks help steady with the Big Bank Basket steady at $227.78. CBA eased back with other financials better, SOL up 1.0% and CGF rising 1.6%. Insurers eased, Industrials mixed, ALL off 3.3%, with tech falling as WTC lost 1.2% and XRO down 1.4%. Utilities are also under a little pressure, ORG down 1.0% and AGL falling 0.9%. Retailers are taking a breather, with FLT giving back some gains down 2.3% and WEB down 1.2%. In corporate news, CSL won a contract for a new flu vaccine, HUB was up 0.2% on positive FUA inflows, and IGO fell 0.7% on some more impairments. In economic news, nothing locally, China saw its manufacturing sector growing 6.2%. Asian markets mixed again, Japan back from a holiday up 0.3% and HK down 1.3% with China -0.1%. 10Y yields falling to 4.25%. Dow Futures up 38 points. NASDAQ Futures up 47 points. 

HIGHLIGHTS

  • Winners: CTT, C79, CEN, MAH, LIC, IRE
  • Losers:  DRO, ADT, PYC, ABB, CU6
  • Positive sectors: Financials.
  • Negative sectors: Iron ore. Utilities.
  • ASX 200 Hi 8018 Lo 7997
  • Big Bank Basket: Steady at $227.78 (unchanged)
  • All-Tech Index: Down 0.2%.
  • Gold: Trading better at $3609
  • Bitcoin: Rallies to US$64,080 on Trump card.
  • 10-year yields fall to 4.25%
  • AUD: slips to 67.40c.
  • Asian markets mixed again, Japan back and up 0.3%, HK down 1.4% and China unchanged.
  • Dow futures up 38 NASDAQ Futures up 47

MAJOR MOVERS

  • PNV +3.5% biotechs kicking up
  • CTT +8.3% Burberry results? Oversold?
  • NEU +2.6% health care stocks doing well.
  • C79 +6.6% good rebound.
  • TTT +16.7% Dr Dare to head US Defence and Aerospace efforts.
  • LCY +14.3% Mt Bevan Magnetite JV PFS.
  • DRX +12.5% change in substantial shareholding.
  • DXB +7.4% bounce continues on trial news.
  • MLX +11.1% solid volume.
  • DRO -22.3% crashes back to earth and cities negative article for stumble.
  • ADT -10.0% court release update.
  • ABB -6.2% broker research downbeat.
  • FBR -19.0% change of director’s interest.
  • ENR – 21.1% West Arunta news.
  • BBT -10.9% quarterly investor call.
  • Speculative Stock of the Day:  DGR +233% positive announcement on funding of Solguard.

COMPANY NEWS

ECONOMIC AND OTHER HEADLINES

  • Chinese manufacturing expanded 6.2% last quarter, according to detailed gross domestic product data released Tuesday.
  • The world’s single biggest buyer of copper, State Grid Corp. of China, has slowed its purchases of copper wire this year while at the same time ramping up purchases of aluminum wire, a cheaper substitute.
  • New tariffs of 60% on all Chinese exports to the US would more than halve China’s annual growth rate, according to new research from UBS.
  • Luxury brands roll out 50% discounts as Chinese shoppers rein in spending.
  • Cotton prices tumble as Brazil’s exports surge.
  • Money launderers are increasingly using cryptocurrencies to conceal the origins and movement of illegally obtained funds according to one research report. Who would have thought?
  • European stocks are expected to open in mixed territory. Hugo Boss set to fall on earnings.
  • Ocado, SEB and Swedbank are releasing earnings in Europe, and there are no major data releases.

And finally…..

Laugh And The World Laughs With You,
Snore And You sleep Alone.

The Surest Sign
That Intelligent Life Exists
Elsewhere In The Universe
Is The Fact That It Has Never Tried To Contact Us.

Clarence

XXXX