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ASX 200 continued its march higher today, up 66 points to a new record close of 8318 (+0.8%) as the banks and miners rose in lockstep. The Big Four were back in demand with the Basket up to $240.18 (+1.6%). MQG managed a 0.3% rise with other financials doing well too, ASX up 1.3% and NWL up 2.9%. REITS recovered after yesterday’s sell-off. GMG up 0.7% with SCG up 0.6%. Healthcare better too, CSL continuing higher up 0.6% with RMD up 0.9% and PME rising 2.0%. Industrials firmed, WTC and XRO better in the tech space, WES up 0.6% and TCL rising 2.0%. QAN up 2.0% with retail better, JBH up 1.3% and WEB recovering 1.6%. DMP warmed up nicely, up 1.8%. Resources firmed too, BHP up 0.5% with FMG leading the charge up 2.3%. Gold miners positive, BGL up 1.4% with GMD up 1.5%. Lithium stocks missed the memo, oil and gas too fell on OPEC forecasts. Uranium stocks in demand following Google embracing nuclear. PDN up 2.4% and DYL up 5.7%. In corporate news, TYR dropped like a rock on news that the government will ban POS charges on debit cards, down 11.0%. HUB rallied 2.7% on FUA news. ALD fell 2.3% despite its latest cost-cutting plan. IEL fell 7.4% on lousy AGM forecasts. In economic news, Short-term visitor arrivals gained 658,810, an increase of 9.2% on one year earlier. Asian market mixed again, with Japan up 1.0% with China and HK modestly lower. 10Y yields steady around 4.26%. Dow Futures up 52 points and NASDAQ Futures up 9 points. 

HIGHLIGHTS

  • Winners: TEA, HLS, WA1, QOR, SLC, A4N, DYL
  • Losers: BRN, IEL, LRS, KGN, APX, TWE, PLS
  • Positive sectors: Banks. Healthcare. Tech. Iron ore. Gold. Uranium.
  • Negative sectors: Oil and gas. Lithium.
  • ASX 200 Hi 8332 Lo 8267
  • Iron ore rises 0.24% in Singapore.
  • Big Bank Basket: Up to $240.18 (+1.6%)
  • All-Tech Index: Up 1.1%
  • Gold: Steady at $3,938
  • Bitcoin: Rises to US$65,566
  • 10-year yields steady at 4.25%
  • AUD: Flat at 67.15c
  • Asian markets: Japan up 1.3% with China and HK modestly lower.
  • Dow Futures up 52 points and NASDAQ Futures up 9 points. European Futures positive this morning.

 MARKET MOVERS

  • TEA +7.9% AGM date.
  • SLC +6.7%AGM notice.
  • HLS +7.3% AGM letter to shareholders.
  • JLG +5.2% some movement finally.
  • WC8 +11.1% quarterly activities.
  • SVL +10.0% Bowdens silver project update.
  • DXB +5.3% application for securities to be quoted.
  • PLY +4.8% kicks again.
  • BRN -8.3% profit taking.
  • IEL -7.4% AGM presentation.
  • KGN -4.9% Buy Back update
  • APX -4.3% profit taking.
  • TYR -11.1% SMP -17.7% government moves on debit card charges.
  • XAM -5.2% PFS Webinar.
  • Speculative Stock of the Day: A1G +102.1% Big volume. Board changes and spectacular drilling results from Didievi project. Honourable mention to NVU +114% on reinstatement to quotation.

COMPANIES

ECONOMIC AND OTHER NEWS

  • Short-term visitor arrivals: 658,810 – an increase of 9.2% on one year earlier – Short-term resident returns: 916,890 – an increase of 6.8% on one year earlier
  • Japan’s Nikkei hit a three-month high today above 40,000.
  • Tokyo Metro is expected to raise 348.6 billion yen (US$2.3bn) after pricing its initial public offering at the top end of its range.
  • China’s exports grew by 2.4% in September from a year ago in U.S. dollar terms, while imports rose by 0.3%, customs data showed.
  • China has begun enforcing a long-overlooked tax on overseas investment gains by the country’s ultra-rich.
  • Canada and India expel diplomats over killing of Sikh activist.
  • Google orders small modular nuclear reactors (SMR) for its data centres.
  • Fed’s Waller calls for rate cut caution after ‘disappointing’ data.
  • Goldman Sachs is scheduled to report third-quarter earnings before the opening bell Tuesday. Wall Street expects earnings per share of $6.89 and revenue of $11.8bn, according to LSEG.

And finally….

People in Dubai don’t like watching The Flintstones, but the people in Abu Dhabi Do.

I took my 9-year old son to the office with me on, “Take Your Kid to Work Day.”

As we were walking around the office he started crying. As my coworkers gathered round, he sobbed, “Daddy, where are all the clowns that you said that you worked with?!”

Clarence

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