Tags

, , , ,

ASX 200 rallied 51 points to 8535 (a new record) after a slow start dominated by results. CBA set the tone and gained 2.5% with other banks following in its wake, the Big Bank Basket up to $272.97 (+2.0%). MQG found some love from brokers up 1.7% and SUN delivered a special dividend up 1.3%. GQG continued higher by 1.7% with MFG going down 2.7%. BVS knocked the lights out with its results up 18.6% and CPU also doing well on upgrades to guidance, up 15.5%. REITs mixed but uneventful despite yields pushing higher, CQE continued to gather fans up 2.9% after the good result yesterday. Industrials firmed, supermarkets were better, WOW and COL doing ok. SGH continued to grind higher on broker upgrades up another2.8 % and REA rose 1.5%. Healthcare seems to be struggling with US concerns on cutbacks, PME down 1.2% and TLX off 1.0%. CSL stumbling around but trying hard to find fans, In resources, the Three Amigos were mixed, FMG up and RIO down. Gold miners took a breath, NEM down 2.5% ahead of Barrick results tonight, EVN delivered on promise, and rose 1.1%. Lithium miners still squirming, MIN off 2.4% and PLS up 0.5%. Oil and gas stocks slightly firmer as STO upgraded its reserves, uranium slipping slightly and coal not such a merry old soul, WHC off 2.7%. In corporate news, AGL rose 0.2% on better numbers, and AOV fell 7.1% on less than GUD results. On the economic front, lending indicators today. Asian markets a little mixed, Japan up 0.3%, China unchanged and HK up 1.4%.

HIGHLIGHTS

  • Winners: CPU, GDG, BVS, IMD, AD8, DRO
  • Losers: WA1, AOV, FPR, PRU, EMR, FFM, MYR
  • Positive Sectors: Banks. Tech. Industrials.
  • Negative sectors: Healthcare. Gold miners. Lithium.
  • ASX 200 Hi 8535 Lo 8470
  • Big Bank Basket: Record highs at $272.97(+2.0%)
  • All-Tech Index: Up to 1.2%
  • Gold: drops to AUD$4586
  • Bitcoin: Back to US$95583
  • 10-year yield rises to 4.46%.
  • AUD: Better at 62.98c.
  • Asian markets: Asian markets mainly firmer, Japan up 0.2%, China unchanged and HK up 1.6%.
  • Dow Futures down 28 Nasdaq down 14

MARKET MOVERS

  • BVS +18.6% very positive results.
  • CPU +15.5% good results and guidance upgrade.
  • GDG +9.0% completes institutional offer.
  • IMD +7.6% results presentation.
  • AD8 +5.1% investor briefing details.
  • DXB +15.4% options exercise.
  • HM1 +1.4% NTA steady.
  • AOV -7.1% Not so GUD results.
  • MP1 -3.4% profit taking.,
  • FPR -5.0% buyback update.
  • MFG -2.7% slipping away again.
  • DMP -4.0% the bears are back in town.
  • SBM -7.3% a cunning plan.
  • Speculative Stock of the Day: CRS +141% More gold fever, exceptional high grades at the Island Gold Project.

ECONOMIC AND OTHER NEWS

  • The number of new investment loans for dwellings fell in the December quarter, the first fall since the March quarter 2023.

Number of new loan commitments for dwellings (a), seasonally adjusted, Australia.A graph of blue and orange lines AI-generated content may be incorrect.

  • Alibaba stock surged as much as 8.6% after media reports that it would partner with Apple to roll out AI features in China. Baidu, a rival candidate, slid almost 3% in Hong Kong.
  • Alibaba also published benchmark scores and touted what it called world-leading performance with its new artificial intelligence model release. Qwen 2.5 Max edition.
  • Meanwhile, iPhones could be hit with a 10% tariff on Chinese-made goods.
  • Tokyo asked for an exemption from steel and aluminium tariffs. Good luck with that.
  • Disney cuts diversity category from executive pay scheme.
  • US and UK refuse to sign summit declaration on AI.
  • World’s largest EV battery maker CATL files for Hong Kong listing. Tesla shares fell 6% on Tuesday and have dropped for five straight days, wiping out over $200bn in market cap.
  • BYD has announced that at least 21 of its new model vehicles will come equipped with its partially automated driving system.
  • The Trump administration blocked an Associated Press reporter from an event in the Oval Office on Tuesday after demanding the news agency alter its style on the Gulf of Mexico. Or rather the Gulf of America as Trump wants it called. Maybe the Golf of America.

And finally…..

Talks between AA and RAC merging have broken down.

Spotted in Cornwall…

Clarence

XXXX