Tags

, , , ,

ASX 200 closed up 50 points to a new record high of 8192 (+0.6%) on SPI expiry day. Some wobbles post job numbers were quashed by buyers stepping back in for banks and now resources too. The Big Bank Basket hit fresh highs of $248.39 (+0.5%). CBA up 0.5% and ANZ playing some catch-up, rising 1.1%. MQG rose 1.0% with other financials doing alright. SOL up 1.0% and ZIP up 9.2% on cheaper money and happier customers. REITs also bounced, GMG up 1.5% and SCG up 2.4% with healthcare under some pressure still. RMD fell 2.5% on a US broker downgrade citing GLP-1 threats. COH down 1.5% and SHL drifting 1.3% lower. Industrials were mixed, TCL down 1.9%, BXB fell 0.7% and WES off 0.7%. Tech mixed with the All-Tech Index unchanged. Resources joined the party today. Morgan Stanley upgraded the ‘Three Amigos’, all rose with RIO up 3.5% and BHP up 2.6%. Lithium shares also in demand, PLS up 2.1% and MIN up 1.9% with uranium stocks in focus, DYL up 6.1% and PDN rallying 8.1%. Gold miners were mixed, coal stocks better again, WHC up 1.2% and NHC 2.2% higher. In corporate news, ALQ fell 8.6% on a trading update, MND rose 2.0% on a new $230m contract, SGM rose 12.4% on a trading update, and ORI blasted ahead 1.3% after upgrading expectations. Asian markets firmed on Fed news, Japan up 2.0%, China up 0.5% and HK up 1.9%. 10Y yields rose to 3.93%. European markets bouncing back. FTSE showing up 0.8%.

HIGHLIGHTS

  • Winners: SGM, STX, ZIP, PDN, DRO, IPX, NXL, DYL
  • Losers: ALQ, IMD, ADT, PNR, PNV, ALX
  • Positive sectors: Banks. Iron ore. Lithium. Uranium.
  • Negative sectors: Healthcare. Retail. Industrials.
  • ASX 200 Hi 8200 Lo 8133
  • Big Bank Basket: higher at $248.39 up 0.5%
  • All-Tech Index: Up  0.1%
  • Gold: eases to $3,779
  • Bitcoin: higher at US$62,062
  • 10-year yields rise to 3.93%
  • AUD: better at 67.97c
  • Asian markets: Japan up 2.4%, China up 0.9% and HK up 2.0%.
  • Dow Futures up 268 NASDAQ Futures up 334

MAJOR MOVERS

  • SGM +12.4% trading update.
  • STX +9.8% domestic gas policy update.
  • PDN +8.1% uranium stocks in favour.
  • ZIP +9.2% Fed rate cuts helps on funding and consumers.
  • OPT +5.3% completion of drug substance campaign.
  • SFR +4.9% AGM date.
  • AIS +14.3% copper creeping up.
  • LOT +8.7% Lethakane study shows long life high value.
  • ALQ -8.6% trading update.
  • ADT -4.1% profit taking.
  • PNV -3.9% ceasing to be a substantial holder.
  • RMD -2.5% US broker downgrade on GLP-1 issues.
  • DHG -1.7% director appointment.
  • DUG -7.2% falling into a hole.
  • KCN -4.8% production update.
  • JMS -3.1% rally snuffed out.
  • Speculative Stock of the Day: Nothing on any volume.

COMPANIES

ECONOMIC AND OTHER NEWS

  • Australian employment increased by 47,500 in August (above consensus), following a 58,200 gain the previous month. The unemployment rate was steady at 4.2%.
  • BoE decision today. BoJ tomorrow. Both expected to do nothing.
  • Unicredit has bought some of the German government’s stake in Commerzbank. No plans to go above 9%.
  • New Zealand’s GDP for the second quarter contracted by 0.2% from the previous quarter, according to the official data released today.
  • Ray Dalio flagged that the U.S. economy still faces an “enormous amount of debt.”
  • HK Central bank lowered the rate by a half percentage point to 5.25% Thursday.
  • Singapore stocks are on track for their highest close since 2007 as the prospect of lower interest rates lifts the city-state’s real estate investment trusts.
  • Hizbollah walkie-talkies explode in Lebanon in second day of blasts.
  • EU carmakers say they risk ‘billions of euros’ in emissions fines.
  • SEC cuts tick size for stock market trades to a half penny.

And finally….

Clarence

XXXX