Tags

, , , ,

ASX 200 down 7 points in range-bound trade as we watch and wait (for what?) The index fell to 7964 (-0.1%), with banks steady, CBA down slightly, the Big Bank Basket at$228.39 (0.1%). Insurers did well, QBE up 0.4% and SUN up 1.3%. REITS got whacked led lower by GMG down 2.1%. Industrials a little mixed, TCL fell 0.4%, with WOW and COL modestly lower, tech slipped slightly, WTC off 1.2% and SEK down 1.1%, with CAR off 1.4%. Resources found some love finally, FMG up 0.5% and PLS unchanged on quarterly numbers. Gold miners green across the screen. EVN up 4.1% and NST up 2.4% as AUD fell below 66c. Oil and gas eased again, WDS down 1.1%, uranium stocks down again, PDN off 2.2%, and BOE falling 2.2%. In corporate news, plenty of quarterlies, FLT fell 4.7% on narrower guidance, TLX fell 7.2% on a convertible hedge trade. PPT lost 0.7% on latest FUM numbers, and PTM put on 0.9% on fund restructure. Nothing on the economic front locally. Asian markets lower again, Japan down 1%, China off 0.4% and HK eased 0.6%. 10Y yields steady at 4.33%

HIGHLIGHTS

  • Winners: VUL, WA1, BLX, OBM, BOT, TPW, SPR.
  • Losers: TLX, FLT, ILU, SLX, MSB, LOT, BPT
  • Positive sectors: Gold miners. Insurers.
  • Negative sectors: Oil and gas. Uranium. REITs.
  • ASX 200 Hi 7974 Lo 7944 – Narrow trading range.
  • Big Bank Basket: Steady at $228.39
  • All-Tech Index: Up to 0.3%
  • Gold: Big jump as AUD falls, $3663
  • Bitcoin: Slips to US$65738.
  • 10-year yields steady at 4.33%
  • AUD: slips to 65.93c.
  • Asian markets lower again, Japan down 1%, China off 0.4% and HK eased 0.6%.
  • European results in focus. Deutsche and Unicredit.
  • Dow futures down 130 NASDAQ Futures down 198

MAJOR MOVERS

  • OBM +7.5% gold producer.
  • WA1 +8.8% selective resources in demand.
  • SPR +6.5% rally continues on resource upgrade.
  • WAF +4.6% quarterly report.
  • WGN +20.6% positive trading update.
  • 29M +4.0% Positive quarterly.
  • TLX -7.2% block trade to hedge convertible note.
  • ILU -4.7% broker comments.
  • FLT -4.7% narrowing guidance.
  • MSB -3.8% profit taking.
  • SLX-3.9% uranium slips.
  • AGY -39.5% heading into preservation mode.
  • FHE -15.3% quarterly report.
  • AVR -7.9% capital raise.
  • Speculative Stock of the Day: Hexima (HXL) +58.3% Acquisition of the RealThing.

COMPANIES

ECONOMIC AND OTHER HEADLINES

  • European markets set to open around 0.5% weaker. Follows US futures lower.
  • BNP Paribas’ equities traders boost quarterly profits.
  • Deutsche Bank on Wednesday snapped a 15-quarter profit streak with a narrower-than-expected loss.
  • Chinese EV maker stocks fall on Tesla – Hong Kong-listed shares of Xpeng lost as much as 5.74% while Nio’s stock tumbled 5.26%, Li Auto’s shares dropped 3.8% while BYD slid 2.6%.
  • General Motors on Tuesday said it was delaying further a second U.S. electric truck plant and the Buick brand’s first EV.
  • India closes in on China as largest emerging market.
  • LVMH misses profit forecasts. China the problem.
  • European banking earnings in focus.
  • US Secret Service head resigns over Trump assassination attempt.

And finally…

Clarence

XXXX