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ASX 200 up another 30 points to 8409 (0.4%). Up around 100 points this week. Plenty of green across the board, even resources improved in places. BHP up 0.5%, RIO up 0.3% and FMG rallying 1.0%. Gold miners eased back, EVN down 1.8% and NST off 0.6%. WGX dropped 4.8% on quarterly feedback. Lithium stocks firmed slightly, IGO confirmed the closure of its TLEA refinery, up 0.8% and LTR rallied 1.5%. Uranium stocks eased back, PDN dropped 2.2% with WDS and STO both easier on lower crude prices. Banks were firm, yet again. The Big Bank Basket rose to $261.25 (+0.4%). Financials were firm, GQG up 1.0% and AMP pushing further ahead up 5.0%. Insurers mixed. REITs firmed, SCG up 0.6% and GPT up 1.4%. Industrials stronger, led by WES up 3.2% on a broker upgrade, ALL bounced back 1.9% and healthcare firmed. PME up 0.7% and COH up 1.1%. Retail better with PMV soaring 6.6% and MYR up 2.6%. In corporate news, MND raised guidance, SNL profits rose 32% and KGN dropped 15.2% on issues with Mighty Ape. 4DX had a positive reaction to a deal with Qscan Radiology, and SM1 saw cream rise on very positive H2 guidance. Nothing locally on the economic front, Japan raised rates 25bps to 0.5% as widely expected after Core CPI rose to 3%. Asian market followed US markets higher with Japan up 0.1%, HK up 2.0% and China up 0.8%. 10-year yields steady at 4.47%.

HIGHLIGHTS

  • Winners: DVP, PMV, MND, AMP, CAT, QOR
  • Losers: KGN, CRN, RRL, FPR, EBR, WGX, MAD
  • Positive Sectors: Banks. Iron ore. Retail.
  • Negative sectors: Oil and gas. Gold miners.
  • ASX 200 Hi 8421 Lo 8383
  • Iron ore up 0.9% in Singapore.
  • Big Bank Basket: Higher at $261.25 (0.4%)
  • All-Tech Index: Up 0.2%
  • Gold: Steady at AUD$4388
  • Bitcoin: Rises to US$103864
  • 10-year yield steady at 4.47%
  • AUD: Rises to 63.16c
  • Asian markets better with Japan up 0.3%, HK up 1.8% and China up 1.0%
  • Dow Futures down 29 Nasdaq down 36

MARKET MOVERS

  • QOR +4.7% end of week book squaring.
  • PMV +6.6% post vote bounce.
  • WBT +2.8% podcast!
  • OPT +3.7% carries on higher.
  • MYR +2.6% Ex-Dividend.
  • DVP +9.5% bargain hunting.
  • BRN +4.0% chips are hot.
  • SM1 +22.2% lapse of performance rights.
  • 4DX +6.2% commercial agreement with Qscan.
  • WDS -1.9% Broker downgrades.
  • KGN -15.2% Trading update.
  • RRL -6.2% Broker research.
  • FPR -5.9% Buyback update
  • FND -7.0% slipping lower again.
  • LRV -7.5% strengthens exploration team.
  • DXB -2.2% sliding back down.
  • Speculative Stock of the Day: AQD +41.7% kicks following a big day yesterday on significant copper results at Cangallo.

ECONOMIC AND OTHER NEWS

  • BOJ Raises Overnight Call Rate to 0.50%. BoJ boosts its core CPI forecast to 2.4% from 1.9% for FY2025, says it’ll continue to raise rates if economic outlook realised.
  • President Donald Trump expressed a reluctance to impose tariffs on China during a television interview, suggesting a trade war between the world’s largest economies could be avoided.
  • Trump piles pressure on Fed chair Jay Powell to cut interest rates.
  • A Republican House member introduced a resolution to amend the U.S. Constitution to allow President Donald Trump, and any other future president, to be elected to serve a third term.
  • Singapore eases monetary policy for first time in 4 years.
  • Stargate artificial intelligence project to exclusively serve OpenAI.
  • Boeing books charges and warns on fourth-quarter revenue and profit.
  • Is it only the first week of Trump? Feels longer.

And finally….

Clarence

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