ASX 200 grinds 37 points higher to 8347 (0.5%) ahead of Trump’s inauguration. US markets closed tonight for Martin Luther King Day. Banks solid again with CBA up 0.8% and the Big Bank Basket up to $255.00 (0.7%). Financials were better, MQG up 1.9% and GQG better too. REITS higher, GMG up 0.6% and SCG up 1.4% with industrials also doing ok. WOW, COL and WES all solid, retail rallied, JBH up 3.0% and BAP up 2.3%. PMV eased off slightly with the vote this week, LOV gave back some of Friday’s gains. Tech a little muted with the All -Tech Index up 0.9%. Iron ore miners were better as Port Hedland reopened after the cyclone was downgraded, Singapore iron ore futures slightly better. BHP up 0.5% and RIO up 1.1%. Gold miners eased with NST down 2.6% and EVN down 1.1%. Lithium miners continue to find a few friends and short covering, PLS up 2.5% and IGO up 2.6% despite talking impairments at Kwinana. Energy stocks flat, PDN down 3.7% with DYL up 0.8% on a broker upgrade. In corporate news, IFL granted DD to CC, KAR was plugged and abandoned with a Who Dat well. SGR fell 17.9% on uncertainty unless it can find funding. INR jumped 20.6% on a US government loan. FND is up 25.0% on acquisition and update. In economic news, China left rates unchanged as expected. Asian markets better with Japan 1.2%, HK up 2.3% and CSI up 0.9% on hopes for a Trump visit to China. 10-year yields steady at 4.49%.

HIGHLIGHTS

• Winners: NAN, TAH, IRE, EBR, IRE, PDI
• Losers: PNR, KAR, BRN, DRO, VUL, WBT, VAU
• Positive Sectors: Banks. REITs. Industrials. Tech. Iron ore. Lithium.
• Negative sectors: Gold miners.
• ASX 200 Hi 8356 Lo 8318
• Big Bank Basket: Pushes to $255.00(0.7%)
• All-Tech Index: Up 0.9%
• Gold: Lower at AUD$4354
• Bitcoin: Higher at US$102141
• 10-year yields steady at 4.49%
• AUD: Rises to 62.14c
• Asian markets better with Japan 1.2%, HK up 2.3% and CSI up 0.9%.
• Dow Futures up 10 Nasdaq down 26

MARKET MOVERS

• PDI +5.9% Bankan gold project ESIA approvals.
• BCI +5.5% milestone for debt drawdown.
• IRE -6.2% sale of superannuation business.
• EBR +6.1% WiSE accepted into new TCET pathway of CMS.
• FND +25.0% acquisition and presentation.
• INR +20.6% US government loan.
• CAY +10.5% newsletter recommendation.
• EUR +6.8% response to ASX query.
• PNR -7.6% quarterly webinar date.
• DRO -4.4% sinks again.
• KAR -5.7% Who Dat drilling miss.
• AEF -3.8% FUM
• WBT -4.2% profit taking.
• VUL -4.3% SPP closing tonight.
• SGR -17.9% falling back to earth.
• DXB -8.4% profit taking.
• Speculative Stock of the Day: 3DP +48% quarterly report.

ECONOMIC AND OTHER NEWS

• US Markets closed tonight for Martin Luther King Day.
• Davos gets underway in Switzerland tonight. Trump will speak virtually to the gathering, three days after his inauguration.
• Chinese banks kept their key loan prime rates unchanged as expected.
• EU should welcome Chinese car factories, says Mercedes chief.
• Trump’s border tsar vows ‘shock and awe’ deportations in first week.

And finally….

Clarence

XXXX