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A quiet cautious session as the ASX 200 gave back 9 points to 8411. Down 21 points for the week after a torrid Monday. Banks were solid ahead of CBA results next week. The Big Bank Basket rose to $268.42 +0.2%) MQG slipped slightly with GQG down 1.3% with insurers steady. REITs better on lower 10-year yields, GMG up 0.6% and CHC up 0.5%. Industrials were mixed, and REA kicked 2.8% on broker upgrades. WES slid 1.1% with retail firm, PMV up 1.2% and SUL up 2.6%. Travel stocks also in demand, WEB up 2.6% and CTD rising 3.3%. DMP rose 21.3% like a cheesy crust as store closures were announced in Japan. Finally. Healthcare on the nose as RMD continues to stagger around after quarterly, down another 2.6%. CSL off 1.1% and PME falling 1.5%. Resources were generally weaker, though iron ore miners rose, BHP up 0.6% and FMG up 1.9%. Gold miners saw some profit taking, NST down 2.4% and WGX off 2.0%. Rare earths LYC up 6.1% on Chinese fears, and lithium stocks walloped as CATL rumoured to be reopening a lepidolite mine. PLS down 4.3% and LTR off 4.4%. Energy stocks fell, STO down 0.9% and WHC down 3.9% with uranium under pressure. In corporate news, MMS fell 10.4% on a broker downgrade, and NCK rose 10.5% on better-than-expected results. SIG guided up and rose 3.2%. Nothing locally on the economic front. Asian markets mixed, Japan down 0.6% and HK up 1.5% and China up 1.7%. 10-year yields slightly higher at 4.35%.

HIGHLIGHTS

  • Winners: DMP, CKF, NCK, MSB, SHV, MAF, LYC, APX
  • Losers: MMS, YAL, BOT, STX, LTR, PLS, LOT
  • Positive Sectors: Banks. Iron ore. Tech. REITs.
  • Negative sectors: Lithium. Gold. Uranium. Coal. Healthcare.
  • ASX 200 Hi 8533 Lo 8499 – Narrow range.
  • ASX 200 down 21 points for the week.
  • Big Bank Basket: Record high at $268.42(0.2%)
  • All-Tech Index: Up 0.6%
  • Gold: Eases to AUD$4565
  • Bitcoin: Back to US$97476
  • 10-year yield falls to 4.35%.
  • AUD: Rises to 62.82c.
  • Asian markets: Japan down 0.6% and HK up 1.5% and China up 1.7%
  • Dow Futures down 36 Nasdaq down 14

MARKET MOVERS

  • DMP +21.3% closing Japanese. I really think so.
  • CKF +12.7% YUM! Results clarification.
  • NCK +10.5% results beat expectations.
  • MSB +7.2% nice bounce.
  • LYC +6.1% rare earths in focus.
  • TAH -3.7% profit taking.
  • MMS -10.4% broker downgrade.
  • BPT -5.2% broker downgrades.
  • SPR -3.4% profit taking.
  • KAR -3.8% crude slips.
  • LTR -4.4% PLS -4.3% CATL rumoured to have reopened large lepidolite lithium mine.
  • CHN -7.3% base metals slide.
  • Speculative Stock of the Day: KAL +252.7% Lighthorse gold discovery, Pinjin.

ECONOMIC AND OTHER NEWS

  • US non-farm Payrolls tonight.
  • Super Bowl on Sunday.
  • Reports that Chinese electric vehicle battery maker CATL has restarted production at a major lithium operation in China.
  • A gauge of Chinese tech shares trading in Hong Kong was poised to enter a technical bull market. The Hang Seng Tech Index rose as much as 2.5%, taking its gains from a January low to over 20%.
  • Average household expenditure in Japan stood at 352,633 yen ($2,332) in December, up 7% in nominal terms from the previous year and 2.7% higher in real terms.
  • Average household monthly income was 1,179,259 yen, up 7.2% in nominal terms and up 2.9% in real terms year on year.
  • Gold was steady near a record high ahead of a key US jobs report.
  • Musk barred from accessing US Treasury payments data.
  • Amazon to spend $100bn this year in AI drive.
  • Trump administration plans to retain fewer than 300 USAID staff.
  • Tesla’s sales plummet across Europe.

And finally….

Clarence

XXX