The ASX 200 rose another 64 points to 7854 (0.8%) with the banks finding bargain hunters, CBA up 1.0% and ANZ rallying 1.1% as the Big Bank Basket hit $236.48 ( +1.2%). Financials were mixed, MQG up 1.3% with GQG down 0.5% and PNI rallying 3.2%. REITs were flat as GMG rose 0.3%. Industrials a mixed picture, QAN down 0.9% and WOW and COL slipping slightly, Tech mixed, WTC down 0.6% and XRO up 1.0%. Retails stocks firmed, LOV up 4.2% and PMV rising 1.3% with DMP up 3.6%. Footy has started perhaps! MYR also had a good day, up 3.3%. Resources were the stand outs, BHP up 2.4% and FMG rallying 4.2%. Lithium shorts scrambling to cover with MIN up 11.6% as UBS upgraded. PLS rallying 7.1%. LTR also doing well, roaring 6.2% ahead. Gold miners were slightly better, GMD up 1.8% and SPR rose 9.1% as RMS made its move to merge. Oil stocks formed, WDS up 1.9% and coal better too, WHC up 2.5% with uranium stocks finding a little love. In corporate news, the NAB CFO has switched banks to WBC, SMP jumped 47.1% on news TYR and another was looking at a bid. Nothing on the economic front, Asian markets pushed hard, Japan up 1.3%, HK up 1.3% and China flat. 10-year yields 4.41%.

HIGHLIGHTS

  • Winners: MIN, SPR, VUL, IGO, PLS, CHN, SHV, LTR
  • Losers: PYC, DRO, MAH, ADT, SPK, CU6
  • Positive Sectors: Banks. Iron ore. Lithium. Coal. Uranium. Gold miners.
  • Negative Sectors: Insurers. Supermarkets.
  • ASX 200 Hi 7858 Lo 7797
  • Big Bank Basket: Rises to $236.48(+1.2%)
  • All-Tech Index: Up 0.5%.
  • Gold: Slips to AUD$4718!
  • Bitcoin: Rises to US$84553
  • 10-year yields steady at 4.41%.
  • AUD: Rises to 63.25c
  • Asian markets: Japan up 1.3%, HK up 1.3% and China flat.
  • Dow futures down 183 Nasdaq down 119

MARKET MOVERS

  • MIN +11.6% UBS turns positive.
  • SPR +9.1% merger with RNS
  • LTR +6.2% lithium recovery.
  • CHN +6.5% Tim Goyder will be happy.
  • VUL +7.7% PLS +7.1% lithium improving.
  • AAR +10.7% takeover offer best and final.
  • CVN +9.1% cash return.
  • DRO -5.5% profit taking.
  • ADT -3.7% results of general meeting.
  • VAU -3.3% gold sector profit taking.
  • Speculative Stock of the Day: DNA +40% scheme of arrangement with ONR at 4.5c.

ECONOMIC AND OTHER NEWS

  • Consumption and industrial production in China grew faster to start the year, in an upswing that exceeded forecasts.
  • Retail sales increased 4% in January-February from the same period a year earlier.
  • Industrial output rose 5.9%, higher than the median estimate in a Bloomberg survey.
  • Trump said he plans to speak to Russian President Vladimir Putin on Tuesday.
  • US companies drop DEI from annual reports as Trump targets corporate values.

And finally….

Clarence

XXX