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The ASX 200 faded slightly to close up 48 points at 8447, almost at an all-time high as US markets rebounded and CPI came in better than expected opening the door to a February rate cut. Banks led the charge early before fading slightly, the Big Bank Basket closed off at $262.75 (-0.1%). MQG rose 0.7% and insurers did better with QBE up 0.7%. Financial services continue to push ahead GQG up 3.5% and ASX bouncing back 2.9%. REITS better, GMG bouncing a little, SCG up 1.1% on rate hopes. Healthcare too in demand as CSL put on 1.8% with negativity on RFK Jnr helping sentiment. Industrials firmed across the board, WES up 1.2% and BXB up 0.6% with TLS up 0.8% and ORG bouncing back 1.6%. Retail firmed on CPI data. JBH up 1.9% and PMV went ex-bonus shares today and rose 4.7%. Tech in demand on Nasdaq rally, WTC up 2.6% and XRO up 2.5% with the All–Tech Index up 1.4%.  Resources were generally firm, BHP and RIO the exceptions, gold miners doing well as quarterlies continue to drop and show cash piles, lithium bounced a little as PLS rose 3.5% on its quarterly. Despite uranium slipping below $70, stocks rallied hard after the rout yesterday. BOE quarterly helped its Honeymoon period up 5.6% and DYL up 6.9%. Oil and gas modestly higher. Asian markets better with China closed for Lunar New Year. HK up 0.1% and Japan up 0.8%. 10-year yields eased to 4.37%.

HIGHLIGHTS

  • Winners: PNR, OBM, BGL, MAH, CU6, APX, DYL
  • Losers: AX1, MYR, AAC, VEA, S32, CRN, PDI
  • Positive Sectors: Healthcare. REITs. Financials. Industrials. Gold miners. Uranium.
  • Negative sectors: Iron ore.
  • ASX 200 Hi 8482 Lo 8396
  • Big Bank Basket: Lower at $262.75(0.1%)
  • All-Tech Index: Up 1.4%
  • Gold: All-time high at AUD$4428
  • Bitcoin: Rises to US$101965
  • 10-year yield falls to 4.37%.
  • AUD: Falls to 62.37c on CPI.
  • Asian markets lower, Japan up 0.9%, HK up 0.1%.
  • Dow Futures down 12 Nasdaq up 14

MARKET MOVERS

  • OBM +8.9% good bounce for miners.
  • BGL +8.6% kicks too.
  • BOE +5.6% quarterly report. Honeymoon on track. Off highs.
  • QOR +5.6% change in substantial holding.
  • SGR +13.0% sells theatre.
  • PLT +18.4% 3Q25 update.
  • GRR + 15.0% quarterly report.
  • PMV +4.7% ex-bonus.
  • AX1 -7.6% trading update.
  • MYR -5.2% PMV deal continues.
  • PLY -47.4% quarterly report.
  • ARX -24.4% quarterly report.
  • Speculative Stock of the Day: BGT +65.6% US DoD grants total $3m.

And finally….

Clarence

XXX