ASX 200 soared to new record highs before falling into the close, up 74 points to 8371 (+0.9%) as both the banking sector and the resources pushed ahead. The Big Bank Basket hit a new record up to $260.88 (+1.2%). CBA led the charge with a 1.7% gain and insurers also doing well. QBE up 1.4% and SUN rallying 2.1%. Other financials also in demand, PNI up 1.1% and HMC doing well rising 1.6%. SQ2 stands out again by up 6.3%. REITs too piling on the points, GMG up 1.1% and SCG rising 0.6%, 10Y yields falling to 4.57%. Industrials also in a good place, WES up 0.9% with WOW and COL recovering, QAN up 0.8% and SGH a star, up 3.2%. Retail recovered somewhat, JBH up 0.6% and PMV putting on 1.0% with LOV still under a little pressure. ALL up 1.6% though LNW down 2.5%. Tech rallied hard as WTC put on 2.4%, TNE soared 10.0% on better results, the All Tech Index up 2.7%. Even dull utilities were in demand, ORG up 1.0% and AGL up 0.9%. In resources, early weakness gave the buyers reasons to nibble a little, BHP down 0.1% and RIO down 0.4 % with gold stocks doing well on bullion rises, NST up 4.0% and NEM up 2.0% after a sale of a gold project. Oil and gas better, STO announced a shift in focus and rose 0.3%. Lithium stocks still on the nose with PLS down 5.2% and uranium stocks firm but unspectacular. In corporate news, SYA announced a merger with PLL, CLG had an NBIO from PE, KMD warned of tough times, and MIN company secretary is moving to a compliance and governance role. On the economic front, RBA minutes were released, current settings appropriate. Asian markets mixed again, Japan up 0.7%, HK rose 0.2% and China off 0.5%.

HIGHLIGHTS

• Winners: RSG, SPR, TNE, MYR, SRG, SHL, SQ2, DEG
• Losers: ELD, LRS, PLS, NEU, WBT, CTT, STX
• Positive Sectors: Banks. Tech. Industrials. REITs. Utilities.
• Negative sectors: Lithium. Iron ore. Rare Earths.
• ASX 200 Hi 8446 Lo 8302
• Big Bank Basket: Higher at $260.88(+1.1%)
• All-Tech Index: Up 2.7%
• Gold: Better at $4029
• Bitcoin: Steady at US$91456
• 10-year yields ease to 4.56%.
• AUD: Higher at 65.12c
• Asian markets mixed again, Japan up 0.7%, HK rose 0.2% and China off 0.5%
• Dow Futures unchanged Nasdaq up 33

MARKET MOVERS

• TNE +10.0% great results.
• RSG +10.5% research after huge sell-off.
• SPR +10.3% gold price rise.
• SRG +7.1% new contracts.
• SHL +6.8% positive update.
• SQ2 +6.3% tech bounce in US.
• CLG +19.5% NBIO at 27c.
• SXG +19.2% gold bounce.
• OBM +5.5% oversold.
• 4DX +6.3% 3-year contract with UCSD Health.
• ELD -9.5% acquisition and capital raise.
• LRS -7.3% PLS -5.2% loan facility to LRS activated.
• NEU -5.3% RFK weighs.
• WBT -5.1% profit taking.
• DUG -8.1% a large cap raise hole!
• ZEO -3.3% QLD government funding secured for Metakaolin FS
• Speculative Stock of the Day: PTR +140% outstanding met results at Muckanipple HMS Project. Good volume too.

COMPANIES

ECONOMIC AND OTHER NEWS

• The US Justice Department antitrust officials have decided to ask a judge to force Alphabet Inc.’s Google to sell off its Chrome browser.
• Apple offers $100m to undo Indonesia iPhone 16 ban.
• Two of the world’s biggest foreign holders of US government debt offloaded a pile of Treasuries in the third quarter as they rallied before the presidential election.
• Japanese investors sold a record $61.9bn of the securities in the three months ended Sept. 30, data showed on Monday. Funds in China offloaded $51.3bn during the same period.
• Chinese Vice Premier He Lifeng on Tuesday vowed to boost Hong Kong’s competitiveness.
• Trump’s social media group in talks to buy crypto trading venue.
• Israeli strikes hit ‘specific component’ in Iran’s nuclear programme in October.
• Vale Graham Hand from Firstlinks.

And finally….

Just a Reminder to those who stole Electrical Goods in Last Year’s Riots….Your One Year Manufacturer’s Warranty Runs out Soon.

A boy asks his granny, ‘Have you seen my pills, they were labelled LSD?’ Granny replies, blimey forget your pills, have you seen the dragons in the kitchen?’

Clarence

XXXX