Tags

, , , ,

ASX 200 closed down 73 points at 8264 (0.9%). A weak end to a good week. Resources under pressure again with the Big Three suffering despite iron ore better in Singapore. BHP off 2.2% and FMG slipping 1.9%. Lithium still in struggle street, PLS down 0.4% and MIN off 2.9%. Gold miners were a little mixed despite bullion rises, NEM up 0.8% but GMD down 0.9%. Oil and gas slid, WDS off 1.3% and uranium stocks saw profit taking after big rises yesterday, BOE down 3.0% and PDN off 4.1%. Industrials were also weaker, WES off 1.3% and tech down with WTC falling again, down 3.6% with XRO slipping 0.5%. The All–Tech Index fell %. REITs slid on higher bond yields. GMG down 2.3% and SCG down 1.9%. Banks steady again, CBA up 0.6% and the Big Bank Basket steady at $246.03 (+0.22%). In corporate news, FLT crashed landed down 20.4% on a trading update that was seen as vague. TLX rose 4.6% after announcing it would have another go at a US Nasdaq listing. Nothing on the economic front locally, Chinese GDP came in at 4.6% slightly better than expected. 10-year yields higher at 4.32%.

HIGHLIGHTS

  • Winners: SXG, INR, OBM, CYL, PPT, TLX, WGX
  • Losers: FLT, CTD, PDI, SGT, APA, AMP
  • Positive sectors: Banks. Healthcare.
  • Negative sectors: Iron ore. Uranium. Oil and gas. Industrials. Travel
  • ASX 200 Hi 8340 Lo 8262
  • Iron ore up 1.1% in Singapore.
  • Big Bank Basket: Up to $246.03 (+0.2%)
  • All-Tech Index: Down 0.6%
  • Gold: Higher at $4041
  • Bitcoin: Rises to US$67791
  • 10-year yields higher at 4.32%
  • AUD: Steady at 67.05c
  • Asian markets: Japan flat, HK up 2.4% and China up 3.2%.
  • Europe expected to open slightly lower

MARKET MOVERS

  • INR +6.1% good rally on US lithium moves.
  • PPT +4.6% perking up. Broker report.
  • SXG +7.7% bullion prices helping.
  • OBM +5.9% gold miners in favour.
  • CU6 +4.2% notice of AGM.
  • TLX +4.6% files for Nasdaq listing.
  • LKE +11.4% Appendix 3Y.
  • TLG +6.7% approval of mine concession.
  • EIQ +10.2% brokers tips.
  • FLT -20.4% vague update.
  • CTD -9.5% travel catches a bug.
  • AMP -6.3% brokers cool.
  • SGR -6.9% profit taking.
  • APA -6.3% large fund sells down.
  • DXB -8.2% profit taking.
  • STP -5.6% pulled down.
  • RPL -2.8% Korean woes.
  • HVN -1.8% loses ASIC case.
  • Speculative Stock of the Day: OVT +85.7% second day running following new CEO.

COMPANIES

ECONOMIC AND OTHER NEWS

  • China’s industrial output in September grew 5.4% from a year earlier, up from a 4.5% pace in August, better than expected.
  • Retail sales, a gauge of consumption, rose 3.2% in September, accelerating from a 2.1% growth in August. Analysts had forecast a 2.5% rise.
  • Fixed asset investment expanded 3.4% in the first nine months from a year earlier, compared with an expected 3.3% increase. It rose 3.4% in the January-to-August period.
  • Chinese new home prices fell 0.71%, nearly same pace as August.
  • Values of used homes fell 0.93% after 0.95% drop in August.
  • Japanese Core CPI 2.4%. Slows but inline.
  • Euro falls to 2-month low as investors price in interest rate cuts.
  • Netflix’s third-quarter revenue and subscriber numbers beat expectations.
  • Blackstone plans to list some of its largest investments.

And finally……

Had a cracking afternoon bird watching with Sinead O’Connor
We saw 7 Owls and 15 Jays

Clarence

XXXX