ASX 200 falls 29 points to 8483(0.3%). Banks steady as she goes ahead of CBA results later this week. MQG fell 0.9% and PNI sliding 4.2% with GQG up 3.1% on FUM numbers. REITs mixed as GMG fell 0.9% and SCG rose 1.1%. Healthcare better, RMD up 0.6% and PME up 0.5% with CSL bucking the trend down %. Industrials flat as retail came under some pressure on JBH results, reversing early gains after conference call. LOV down 2.2% and NCK falling 3.7% despite brokers positive. Travel stocks better, WEB up 0.8% and LNW doing well up 7.9%. DMP steady after the big run Friday. Tech stocks dominated by front page headlines for WTC again, the All–Tech Index down 1.0% with WTC off 4.4%.  In resources, iron ore stocks fell, FMG off 1.5%, and RIO fell 1.2% on proposed tariffs in the US on aluminumold miners held up, NEM up 0.7% and EVN up 0.3%. LYC continued higher up 1.9% with PLS down slightly on an earnings update. BSL rose 1.8% on Trump steel tariffs. Energy stocks mixed, STO up 0.4% with BPT firming 4.0%. In corporate news, ANN rose 8.1% on better-than-expected numbers, CAR crashed 6.5% on some disappointment on growth and US price rises and JBH down on rethink. SGR rallied 13.6% on news of proposals for its Queen Street Wharf complex in Brisbane. Citi upgraded its gold price forecast to US$2900 this year. In Asian markets, Japan unchanged, HK up 1.4% and China unchanged. 10-year yields at 4.40%.

HIGHLIGHTS

• Winners: ANN, LNW, BOT, RSG, DVP, KPG, BPT
• Losers: WA1, CAR, JBH, WTC, MAH, PNI, CDA
• Positive Sectors: Gold miners. Poker machines.
• Negative sectors: Tech. Iron ore.
• ASX 200 Hi 8502 Lo 8445
• Big Bank Basket: Unchanged at $268.31
• All-Tech Index: Down 1%
• Gold: Better to AUD$4590
• Bitcoin: Back to US$97205
• 10-year yield up to 4.40%.
• Asian markets: Japan unchanged, HK up 1.4% and China up 0.3%
• Dow Futures up 79 Nasdaq up 116

MARKET MOVERS

• KPG +5.0% good bounce on low volume.
• ANN +8.1% bouncing on results.
• LNW +7.9% ALL gets an upgrade.
• GQG +3.1% FUM grows.
• QOR +3.2% going ok.
• MYX +24.4% optimistic update – revenue to quadruple.
• SGR +13.6% interest in Brisbane.
• LRV +7.8% antimony exposure.
• AIS +9.7% copper play.
• CAR -6.5% Crashes on some disappointment.
• JBH -4.6% rethink. After rise.
• WTC -4.4% front page again.
• MYR -2.3% slipping again.
• WC8 -4.1% PFS for Tabba Tabba.
• Speculative Stock of the Day: GRL +25% – Outstanding drill results – Lewis Ponds Au AG project.

ECONOMIC AND OTHER NEWS

• Citi has upgraded its forecast for the gold price to average $US2900 an ounce this calendar year, up from $US2790.
• Woolworths has told its 10,000 office-based workers they will have to attend the workplace at least three days a week from October.
• President Donald Trump said he has ordered a stop to minting new pennies because they cost more to make than they’re worth.
• Trump vows to cut billions of dollars from US defence spending.
• Tech megacaps plan to spend more than US$300bn in 2025 as AI race intensifies.
• Macron unveils plans for €109bn of AI investment in France.
• Tesla announced an 8,000 yuan insurance subsidy and five-year 0% interest financing plan for its cheapest car, the Model 3.
• Egypt announced Sunday that it will host an emergency Arab summit on Feb. 27 to discuss “new and dangerous developments.”

And finally…..

Ed and Nancy met on a singles cruise, and from the moment Ed laid eyes on her, he was smitten. When they returned home and realized they lived just a few miles apart, Ed was over the moon. Wasting no time, he began asking her out right away.

Within weeks, Ed had taken Nancy to dance clubs, restaurants, concerts, movies, and museums. With each date more amazing than the last, Ed became convinced—Nancy was his soulmate.

To celebrate the one-month anniversary of their first dinner aboard the cruise ship, Ed took Nancy to an elegant restaurant. As they sipped cocktails and waited for their salads, Ed cleared his throat and said, “Nancy, I think you can tell—I’m completely in love with you. But before we take the next step, I need to be upfront about something. Before I reach into my jacket for a certain little box and ask you a life-changing question, there’s something you should know. I’m a total golf fanatic. I play, I read about it, I watch it on TV—I eat, sleep, and breathe golf. If that’s a problem, now’s the time to speak up.”

Nancy took a deep breath and smiled. “Ed, that won’t be a problem at all. I love you just the way you are, and I love golf too! But since we’re being completely honest… I should tell you that for the last five years, I’ve been a hooker.”

Ed blinked, then leaned in and said, “Well, that’s probably because you’re not keeping your wrists straight when you swing.”

Clarence

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