Tags

, , , ,

ASX 200 ended the week sprinting 69 points higher to 8295 (+0.8%). A good 2.2% rise for the week. It has been a momentous week, money being put to work in the ASX. Resources buoyed by China hopes. BHP, RIO and FMG all better despite iron ore in Singapore falling 2.6%. Gold miners recovered as bullion pushed up again, NST up 1.8% and NEM up 1.2%. Uranium stocks ran out of ‘oompf’ on Cameco production downgrade and oil and gas stocks eased. Lithium stocks mixed, PLS eased 1.0% with LTR up 2.5% despite the royalty ruling. Industrials and banks the driving force. Healthcare recovered, CSL up 0.7% and RMD up 1.1%. Tech better, WTC up another 1.8%, XRO rising 1.2% with the All–Tech Index up 1.0%. Retail better, JBH up 3.9% with PMV up 1.9% and DMP bouncing 1.3%. Travel stocks also finding friends, with FLT up 0.8% and CTD rising 2.5%. Banks were solid. CBA leading again up 1.4% with WBC, the Big Bank Basket up to $253.24 (+1.4%). Record highs. ANZ results were a little underwhelming but nothing either way, expect some modest downgrades, as we saw with NAB and WBC. MQG flat with other financials better. In corporate news, NEU jumped another 15.1% on strong US Daybue sales, REA up 0.3% on results, NWS off 2.1% on a revenue surge on Real Estate exposure. MYX rallied 15.1% on M&A hopes. Nothing on the economic front, apart from the Fed! Asian markets better, China heading for its best week in a month. Japan -0.1%, China down 0.5% and HK down 0.9%.

HIGHLIGHTS

  • Winners: NEU, APX, BRN, IPX, CYL, TEA, BOT, LOT
  • Losers: SQ2, LRS, BFL, WOR, JIN, RDX
  • Positive Sectors: Banks. Iron ore. Gold. Tech. Industrials.             
  • Negative sectors: Lithium. Oil and Gas. Insurers.
  • ASX 200 Hi 8319 Lo 8241
  • Iron ore down 2.5% in Singapore.
  • Big Bank Basket: Up to close to ATH at $253.24 (1.4%)
  • All-Tech Index: Up 1.0%
  • Gold: Rises to $4048
  • Bitcoin: Steady at US$75911
  • 10-year yields lower at 4.57%.
  • AUD: Higher at 66.54c
  • Asian markets: Japan flat, China down 0.8% and HK down 0.9%

MARKET MOVERS

  • NEU +15.1% rally continues.
  • APX +14.6% SPP completes.
  • IPX +12.2% Regal write-up.
  • CYL +10.4% bounce after loss yesterday.
  • BRN +13.7% rally continues.
  • TEA +8.4% low volume but looking good.
  • BIS +20.9% change of directors interest.
  • POL +17.4% Endeavour project financed.
  • IMB +11.0% director buying.
  • MYX +15.1% SIG lifts valuation perhaps.
  • ATC +12.1% Response to ASX query.
  • SQ2 -6.1% results miss.
  • LRS -5.0% lithium depressed.
  • WOR -4.2% gives back some of rally.
  • JIN -3.5% reaffirms!
  • DHG -3.3% broker downgrades.
  • Speculative Stock of the Day: MNC +54.4% Response to ASX query.

COMPANIES

ECONOMIC AND OTHER NEWS

  • Trump chooses Susie Wiles as White House chief of staff. As expected.
  • Putin says Trump’s Ukraine proposals merit attention.
  • The Standing Committee of the National People’s Congress, the equivalent of parliament in China, is scheduled to conclude its meeting today, with an official readout expected. Put a number on it!
  • Private jet emissions soar almost 50% in four years.
  • Nissan cuts 9,000 jobs and halves CEO’s pay as it sinks to a loss.
  • Bitcoin analysts forecasting US$100k.
  • Oil lower in Asian trade.

And finally….

Clarence

XXXX