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ASX 200 closes up 10 points at 8222 as caution creeps in. Quarterlies causing some serious volatility, banks under a little pressure with the Big Bank Basket down to $245.14 (0.7%) and CBA off 0.8%. ANZ eased after some accounting changes, other financials also slipped slightly. ASX down 0.4% after its AGM, insurers slightly higher, SUN up 0.9%. REITS slid, GMG off 0.6% and SGP down 0.4%. Industrials a mixed bag of lollies. Tech better led by WTC up 0.9% and XRO up 2.5% with COL and WOW easier. TLS flat with CSL off 0.6%. Resources were slightly firmer. MIN finding some support after an update on the inquiry now due a week away. BHP, RIO and FMG rallied on iron ore prices bouncing in Singapore. PLS up 3.3% with LYC also doing ok. Gold miners were a sitting target for profit takers, NST fell 5.5%, EVN down 1.9% and NEM bouncing back slightly, up 2.6%. Uranium stocks saw short sellers resume the attack, PDN were ditched post the quarterly and a Fission update, off 15.3%. BOE and DYL followed suit, coal better, but oil and gas stocks eased after oil fell 4% on muted Israeli response. In corporate news, TPW fell 0.8% on slowing retail spending, MTS down 2.5% after extending a supply contract in QLD. Nothing significant locally on the economic front. Asian markets mixed again, Japan rose 1.6% on election result, China and HK mixed. 10-year yields higher at 4.48%.

HIGHLIGHTS

  • Winners: INR, VUL, BOT, SXG, CTT, DRO, RPL
  • Losers: PDN, PNR, BOE, NST, ADT, WGX
  • Positive sectors: Iron ore. Lithium. Tech.
  • Negative sectors: Banks. REITs. Gold Miners. Uranium.
  • ASX 200 Hi 8227 Lo 8200 Narrow range.
  • Big Bank Basket: Down to $245.14
  • All-Tech Index: Rallies 1.3%. WTC bounce continues.
  • Gold: Slips to $4147
  • Bitcoin: Steady at US$67664
  • 10-year yields rise to 4.48%
  • AUD: Slides to 65.81c
  • Asian markets: Japan rose 1.8% on the election, and China and HK eased slightly.
  • Dow Futures up 170 Nasdaq up 155

MARKET MOVERS

  • INR +12.7% still finding friends after environmental ticks.
  • VUL +12.5% quarterly report.
  • BOT +6.1% quarterly report.
  • ZIP +3.7% US economic strength.
  • WGX -4.9% quarterly report.
  • PDN -15.3% Fission deal in doubt. Operational issues too.
  • ADT -4.9% quarterly report.
  • VNL -21.9% convertible note and option purchase.
  • LRV -13.0% options underwriting.
  • LTP -10.3% quarterly activities.
  • SVL -8.0% quarterly report.
  • Speculative Stock of the Day: AZ9 +63.8% – Outstanding copper – Nickel discovery.

COMPANIES

ECONOMIC AND OTHER NEWS

  • LDP, coalition partner Komeito fall short of a majority in first since 2009. Yen extends loss against dollar after election.
  • Indonesia has blocked Apple from selling its latest iPhone 16 devices in Southeast Asia’s largest economy, saying the company has yet to meet domestic investment requirements.
  • Iran’s supreme leader signals measured response to Israel’s attack.
  • Starmer to pledge to ‘embrace fiscal reality’ in the Budget.
  • McDonald’s Quarter Pounder burgers to return to restaurants affected by E. coli outbreak.

And finally….

Clarence

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