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The ASX 200 finished up 43 points at 8417 (0.5%). Resources were the stars today, BHP up 1.5% with FMG rallying another 2.0% and even lithium stocks better, MIN up 1.8% and PLS up 1.8%. Gold miners took a little while to warm up, but NEM ended up 1.2% and DEG up 2.5% with WGX bouncing back 3.4%. Uranium stocks glowing again, PDN up 2.8% and DYL up 1.9% with oil and gas stocks better too. Coal stocks got a boost from tariffs on US coal perhaps. Banks were solid but uninspiring, The Big Bank Basket rose to $261.41 (0.5%). MQG got walloped down 3.6% with XYZ down too, perhaps on Paypal numbers. GQG continue to push higher, up 1.5%. IFL got yet another bid, this time from Brookfield at 460c. Insurers eased and REITs pushed up on falling bond yields. GMG up 0.6% and SCG up 1.1%. Industrials firmed across the board. WES up 0.3% with ALL finding support up % and SGH doing well. REA had a good day up % and CAR rose 2.0%. Tech better, WTC up 1.9% and XRO up 1.6% with the All–Tech Index up 1.2%. In corporate news, AMC results better than expectations and the stock rose 2.9%. PNI hit record highs on results, BWP rose too on higher profits and dividends. In economic news, the government has sold $15 billion of Treasury bonds maturing in March 2036 in a heavily oversubscribed deal. Asian markets a little mixed as China returns from New Year.

HIGHLIGHTS

  • Winners: PNR, BMN, CU6, PDI, IFL, WA1, OML
  • Losers: KPG, MSB, XYZ, MQG, EBR, ZIP, DVP, GYG
  • Positive Sectors: Banks. Tech. Resources. Gold. Industrials.
  • Negative sectors: Healthcare.
  • ASX 200 Hi 8441 Lo 8384
  • Big Bank Basket: Rises to $261.41(0.5%)
  • All-Tech Index: Up 1.2%
  • Gold: Rises to AUD$4557
  • Bitcoin: Back to US$98089
  • 10-year yield falls to 4.35%.
  • AUD: Rises to 62.48c.
  • Asian markets lower, Japan down 0.1%. HK down 0.7%. China resumes trade down 0.3%.
  • Dow Futures down 110 Nasdaq down 125

MARKET MOVERS

  • PNR +13.6% gold flies.
  • PDI +10.0% buyers in after placement.
  • IFL +6.9% anyone else want to bid?
  • DRO +4.8% finding its feet.
  • BWP +4.9% results.
  • WGX +3.4% bouncing back.
  • BBT +19.7% investor presentation.
  • LRV +7.0% antimony play.
  • OCC +12.2% pushing again.
  • KPG -12.2% results disappoint.
  • XYZ -4.0% Paypal numbers perhaps?
  • MQG -3.6% big move for the bank. Broker ups target!
  • ZIP -3.0% comes undone.
  • CSL -1.2% new US health secretary.
  • FND -4.8% coming into range.
  • Speculative Stock of the Day: OZM +61.5% again! Update on Mulgabbie gold project. Assays next week!

ECONOMIC AND OTHER NEWS

  • New Zealand’s unemployment rate rose to 5.1% in the December quarter, its highest in four years.
  • The Caixin China services purchasing managers’ index fell to 51 in January from 52.2 the previous month, according to a report from Caixin and S&P Global.
  • The US Postal Service is temporarily suspending inbound international packages from China and Hong Kong Posts.
  • Next Generation Technology Group, the first listing on the Tokyo Stock Exchange this year, jumped on its trading debut. The shares climbed as much as 58% to ¥3,165 in early trading.
  • China keeps renminbi steady in first fix since Donald Trump’s tariffs.
  • Donald Trump said the US should take control of the devastated Gaza Strip, shunt the area’s residents to other countries and rebuild it into a new “Riviera.”

And finally…..

Clarence

XXXX