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TheASX 200 finishes down 5 at 8374 (0.1%) as nerves and some investor apathy kicked in. China imposing a 15% tariff on US Coal and LNG hurting sentiment late. After a strong start banks faded with the Big Bank Basket closed modestly lower at $260.06(-0.25%). CBA down 0.3% with WBC down 0.2%. MQG kicked 0.4% higher and other financials improved, GQG up 2.4% and XYZ bouncing 1.0% on Bitcoin and tech sentiment. Insurers drift lower, QBE down 0.2% and SUN down. REITs slid a little, GMG down 1.2% and SGP off 1.6% with 10-year yields higher at 4.41%. Industrials drifted lower, BXB off 1.6% with ALL down 1.3% and WOW and COL easing. Tech better with WTC up 3.6% and the All–Tech Index up 1.3%. Resources were generally firm, iron ore stocks gained, RIO bouncing 1.6% on Canadian news. Gold miners were in demand, NEM up 0.9% with GMD rallying 2.5% and EVN up 1.6%. LYC slipped back 3.8% and lithium stocks bounced slightly, PLS up 2.7% and MIN up 2.4%. Oil and gas stocks drifted down, uranium stocks mixed, PDN up 1.3%. In corporate news, SEK pulled out of XF1 bid after vote failed to get up, PDI rallied 13.2% on a strategic placement and PME up again on a $53m order. On the economic front, consumer confidence came in better than expected at a near 3-year high.

HIGHLIGHTS

  • Winners: PDI, WA1, APX, CYL, EBR, NXL, VAU, PME
  • Losers: VGL, AD8, LYC, TEA, A4N, NEU, NXG
  • Positive Sectors: Iron ore. Lithium. Gold. Tech.
  • Negative sectors: Banks. REITs. Industrials.
  • ASX 200 Hi 8446 Lo 8374
  • Big Bank Basket: Falls to $260.06 (-0.2%)
  • All-Tech Index: Up 1.3%
  • Gold: Rises to AUD$4554
  • Bitcoin: Rises to US$98452
  • 10-year yield rallies to 4.41%.
  • AUD: Falls to 61.86 c on China tariff news.
  • Asian markets lower, Japan up 1.1%. HK up 1.3%. China resumes trade tomorrow.
  • Dow Futures down 59 Nasdaq down 60

MARKET MOVERS

  • WA1 +12.6% quarterly report.
  • PDI +13.2% strategic placement
  • VAU +5.2% substantial shareholding.
  • PME +5.2% another contract win.
  • ZIP +2.2% solid bounce.
  • MEI +9.5% shoots back.
  • IMB +10.1% debt refinancing.
  • ETM +25.8% Greenland takeover?
  • DXB +10.3% investor presentation.
  • LRS – takeover complete.
  • AD8 -4.5% slide continues.
  • LYC -3.8% reverses gains from Monday.
  • NXG -3.2% uranium reverses.
  • OML -3.1% broker downgrade.
  • XF1 -22.6% SEK walks after vote fails.
  • Speculative Stock of the Day: Nothing on any volume.

ECONOMIC AND OTHER NEWS

  • China imposes new tariffs on US Coal and LNG – Launches investigation into Google.
  • UBS Results out this morning in Europe. FY PBT US$6.8bn.
  • ANZ-Roy Morgan Consumer Confidence increased 2.5pts to 88.5 after the Australia Day long weekend, with a rebound in buying intentions driving the increase after three straight weeks of declines.
  • Consumer Confidence is now 4.7 points above the same week a year ago, January 29 – February 4, 2024 (83.8), and 1.5 points above the 2025 weekly average of 87.0.
  • Vanguard now anticipates the RBA to start easing in February – a change from the previous forecast between April and June
  • Vanguard puts pressure on rivals with large round of fee cuts.
  • Indonesia passes law to create $61bn investment agency
  • Palantir shares soar on rosy outlook and prospect of Trump cost-cutting.
  • Starmer urges EU to re-engage with UK at leaders’ meeting.
  • Greenland plans to ban foreign political donations after Trump threats.

And finally….

For Sale.
Signed photo of John Lennon’s wife.
£100 ono

Clarence

XXXX