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ASX 200 pushed 38 points higher to fresh highs of 8444. Up 0.5%. Banks back in charge with the Big Bank Basket up to $263.13 (0.7). CBA up 0.6% and NAB up 0.9%. Other financials also strong, MQG up 0.4% and insurers firm, QBE post its update rising 1.2%. IAG up 3.6% on acquisition news, ASX bouncing back too. REITS steady. Industrials are also steady but uninspiring. WOW up 0.5% and ALL up 0.3% with healthcare stocks doing very well, PME up 8.7% on a new $330m contract. CSL up 1.6%. Iron ore miners better, BHP up 0.7% with gold miners under a little pressure in places. SPR up % on drill results. In energy, STO continue to fall, PDN down 5.0% and WDS up 0.1%. In corporate news, AVJ caught a bid from PE, SGR held its AGM and fell 7.1% to all-time lows,  as new CEO urged patience. MGH in a capital raise and WJL in the sights of the ACCC on pricing. FPH fell 2.1% on profits growing less than hoped. Guidance an issue. HUM rattled on lower dividend warning. In economic news, Private new capital expenditure (capex) rose 1.1% in September quarter 2024. Asian markets mixed, China down 0.8%, HK down 1.3% and Japan up 0.7%. 10-year yields down to 4.36%.

HIGHLIGHTS

  • Winners: PME, SXG, CU6, SPR, OPT, ESG, GTK, BOT
  • Losers: PYC, SGR, PDN, STX, LTR, CYL, VUL
  • Positive Sectors: Banks. Healthcare. Iron ore.
  • Negative sectors: Gold. Lithium. REITs. Industrials.
  • ASX 200 Hi 8477 Lo 8411
  • Big Bank Basket: Up to 263.13(+0.7%)
  • All-Tech Index: Up 0.9%
  • Gold: Lower at $4056
  • Bitcoin: Higher at US$95838.
  • 10-year yields ease to 4.37%.
  • AUD: Higher at 64.87c
  • Asian markets mixed, China down 0.8%, HK down 1.3% and Japan up 0.7%.
  • US Closed tonight for Thanksgiving shopping.

MARKET MOVERS

  • PME +8.7% wins new $330m contract.
  • OPT +5.4% nice bounce.
  • CU6 +6.9% last patient assessment completed for SARTATE trials.
  • SXG +7.1% positive drill results.
  • SPR +6.4% positive drill results.
  • IAG +3.6% acquisition of RACQ Insurance.
  • AVJ +87.9% a very proud old builder with a bid now.
  • IMR +2.8% licence agreement signed.
  • AQZ +8.4% sale of airframes and engine cores.
  • DUG +7.9% out of a hole.
  • VUL -3.9% sell off continues.
  • LTR -4.5% AGM
  • PYC -7.5% investor presentation.
  • PAR -20.9% a bogey today. Phase 3 knee OA trial.
  • HUM -12.3% rattled. AGM presentation.
  • RSH -7.3% Investor presentation.
  • Speculative Stock of the Day: Nothing on any volume.

ECONOMIC AND OTHER NEWS

  • 2022-23 saw the first increase in net energy use in Australia since 2018-19, increasing by 2%
  • Bank of South Korea cuts rates to 3% in surprise move. Cuts 2025 growth view below 2% as concern over outlook grows.
  • Chinese shares underperformed the region on Thursday amid a report the US is considering fresh sanctions to curtail Beijing’s access to crucial semiconductors.
  • Trump has dinner with Mark Zuckerberg. Did someone say KFC?

And finally….

Clarence

XXXX