Tags

, , , ,

ASX 200 kicked 88 points higher to 8076 ahead of ECB decision. Best day in three weeks. Back to within 72 points of an all-time high. Uranium and lithium stocks leading the charge. Gains across the board. Resources recovering as shorts getting squeezed hard, BHP the exception as it went Ex-Dividend. RIO up 1.9% and FMG up 2.2%. Lithium stocks saw a short-covering frenzy, with PLS up 7.9%, MIN up 8.3%, and IGO up 6.8%. Gold miners also back in demand, NST up 1.4% and EVN up 2.3%, with oil and gas better as the Hurricane Francine hits the Gulf of Mexico. WDS up 2.0% and STO rallying 1.2%. Uranium stocks in demand after Putin’s comments. PDN up 9.1%, BOE up 10.7% and DYL running another 13.5%. Banks were also strong too, CBA up 1.4% and WBC rose 1.4%. MQG up 1.2% with the insurers also doing ok. REITs better, GMG up 2.4% and NXT finding a base up 1.1% after a big capital raise. Other tech stocks were better, WTC up 3.5% and XRO up 2.2% with the All–Tech Index 1.9% to the good. Healthcare rose, retail rose, LOV up 1.3% and DMP recovering 4.1%. In corporate news, NEC saw its CEO resign, and BKW wrote off $123,5m after tax on its Austral masonry business. QAN announced Joyce’s final pay packet and WDS has shut down some operations in the Gulf due to the Hurricane. In other news, ACL rose 1.5% despite a large holder selling out, and NHF rose 3.0% as its CEO is set to retire. Nothing on the economic front. In Asia, tech and semi-conductor stocks led the rally, Japan up 3.1%, HK up 1.3% and China up 0.1%. 10-year yields 3.86%.

HIGHLIGHTS

  • Winners:  DYL, SLX, BOE, NIC, ZIP, PDN, MIN, PYC, TAH
  • Losers: MMS, NEC, SPK, BKW, IFM, NAN, ALQ, PGC
  • Positive sectors: Everything. Lithium and uranium stand outs.
  • Negative sectors: Nothing.
  • ASX 200 Hi 8079 Lo 7980
  • Big Bank Basket: Higher again at $245.32(+1.3%)
  • All-Tech Index: Up 1.9%
  • Gold: drifts to $3,763
  • Bitcoin: rises to US$58102
  • 10-year yields fall to 3.85%
  • AUD: firms to 66.92c
  • Asian markets:  Japan up 3.1%, HK up 1.3% and China up 0.1%.
  • Dow Futures up 66 NASDAQ Futures up 48

MAJOR MOVERS

  • DYL +13.5% Uranium short squeeze.
  • SLX +12.0% uranium short squeeze.
  • BOE +10.7% PDN +9.1% squeezed.
  • NIC +9.1% nickel moves.
  • ZIP +7.1% back on the up again.
  • APX +16.7% the recovery continues.
  • JMS +12.9% manganese recovery?
  • FND +16.3% rocketing higher.
  • NEC -2.8% CEO resigns.
  • BKW -1.8% impairments.
  • BHP -1.4% ex-dividend.
  • Speculative Stock of the Day: AL3D (AL3) +19%. Agreement with US Navy.

COMPANIES

ECONOMIC AND OTHER NEWS

  • This came out yesterday. Short-term resident returns: 1,146,340 – an increase of 15.1% on one year earlier.

ECB Decision Day – easy one really, 25bps.

Euro zone inflation dropped to a three-year low of 2.2% in August, down from 2.6% in July. Core inflation, which excludes the more volatile components of energy, food, alcohol and tobacco, remained somewhat sticky at 2.8% in August, down from 2.9% in July.

Oil prices rose during Asian trade spurred by concerns of Hurricane Francine impacting output in the US.

Brussels explores Draghi option of extending up to €350bn in EU debt.

OpenAI aims to raise at least $5bn at $150bn valuation.

Europe’s privacy watchdog probes Google’s use of data for AI model.

India’s biggest IPO of 2024 draws a huge $39bn in bids. That’s more than 1% of the country’s gross domestic product for the fiscal year ended 2024. No froth here then!

British Technology Minister Peter Kyle said Thursday that U.K. data centers will be given “Critical National Infrastructure,” or CNI, designation.

And finally….

My wife is very obliging.
I told her my last wish is to be cremated.
She made a appointment for next Tuesday.

Clarence

XXXX