ASX 200 rose another 17 points to 8027 (+0.2%) as Super Thursday produced a head-spinning deluge. Again, some good, some bad, and some very ugly. MP1 for one down 21.0%. Once again, we saw resources outperform banks slightly. The ‘Three Amigos’ were firm, FMG the best, up 2.0% and lithium stocks a smidge firmer, PLS up 2.0% and LYC up another 1.3%. Gold miners were mixed, NST up 1.7% on results, EVN up 0.5% but EMR off 1.9%. Oil and gas were sidelined, WDS and STO fell on lower crude prices. Uranium not doing much either. In the coal space, WHC ran 6.3% on good numbers and the sale of assets. YAL bounced slightly after the results recently. Banks, solid, the Big Bank Basket unchanged at $233.36. Insurers fell, QBE off 0.9% and MPL dropped 2.3% on numbers. MQG doing little, with REITs better. GMG missing out slightly again. Industrials were all about the results. Retail once again in focus, SUL up 6.2% on its special dividend, LOV up 1.9% with travel stocks down again, WEB off 1.0% and CTD falling 7.4%. DMP also fell 6.0% like the proverbial. In corporate news, plenty. CKF crashed 12.9%, GEM warned of difficult times, falling 7.5%, BOQ sacked 400 and warned too, dipped 7.3%. IFL fell 15.7% as its complicated and disappointing. result. Not much on the economic front. Powell in focus. In Asian markets, mostly higher on Flash Business activity number in Japan. Nikkei up 0.3%, HK up 0.6% and China off 0.3%. 10-year yields, 3.89%.

HIGHLIGHTS

  • Winners: MAF, CDA, OPT, PYC, CU6, WTC, MAH, WHC
  • Losers: MP1, IFL, CKF, MVF, DTL, GEM, CTD, BOQ
  • Positive sectors: Retail. Iron ore. Lithium. REITs. WTC.
  • Negative sectors: Insurers.
  • ASX 200 Hi 8040 Lo 8017 Narrow range. All about Results.
  • Big Bank Basket: Unchanged at $233.36
  • All-Tech Index: Up 1.0%
  • Gold: Falls to $3717.
  • Bitcoin: Steady at US$60717
  • 10-year yields weaker at 3.89%
  • AUD: Steady at 67.30c
  • Asian markets: Nikkei up 0.5%, HK up 0.7% and China off 0.2%.
  • US Futures flat . European markets opening quiet.

MAJOR MOVERS

  • MAF +16.3% Results
  • CDA +11.4% Results presentation.
  • OPT +9.9% Regal write-up.
  • WTC +7.8% broker upgrades.
  • CU6 +8.9% Fast track designation for 64CU-SAR bisPSMA.
  • WHC +6.3% results better than YAL.
  • BXB +5.3% broker upgrades.
  • SUL +6.2% special dividend helps.
  • GLB +23.2% results
  • LTP +17.0% on the rise.
  • PBH +14.0% results.
  • APX +14.3% the beat goes on.
  • UNI +11.2% consumer still spending.
  • MP1 -21.0% mega fall on results and outlook.
  • IFL -15.7% it’s complicated.
  • CGS -9.0% results and outlook.
  • ACF -9.4% slips lower on results.
  • TRS -9.7% well and truly rejected.
  • CKF -12.9% finger lickin’ bad results.
  • DTL -9.9% broker downgrade.
  • GEM -7.5% guidance.
  • CTD -7.4% broker downgrade.
  • Speculative Stock of the Day:  Nothing on any volume today.

ECONOMIC AND OTHER NEWS

  • The Bank of Korea held its benchmark interest rate at 3.5%, in line with expectations.
  • Japan’s business activity expanded at a faster pace in August, with the composite purchasing managers index climbing to 53.0 from July’s 52.5.
  • Vice President Kamala Harris will back measures to help grow digital assets, a policy adviser to her campaign said.
  • PwC braced for 6-month ban in China over Evergrande audit.
  • Rail union lockout threatens North American supply chains.
  • Large oil tanker ablaze and drifting after Red Sea attack.
  • Franklin shares sink after top bond investor takes leave amid probes.
  • China’s state media moved to criticise Washington after the NYT reported that US President reoriented the US ′ nuclear strategic plan in March to focus on Beijing’s rapid expansion of its nuclear arsenal.

And finally….

Clarence

XXXX