The ASX 200 rose 91 points to 7919 (1.2%) as the Fed soothes nerves. Banks did well with the Big Bank Basket up to $238.79 (+1.9%). MQG bouncing hard, up 3.8% as a market player. Other financials also doing well, GQG up 2.8% and NWL rallying 4.6%. CGF put in a stellar day up 5.7%. REITs also rallying hard, GMG up 2.8% and SCG up 2.5% with industrials seeing bargain hunters. ALL up 2.3%, CPU up 2.2% and SGH doing better up 1.9%. Retail showing signs of life, JBH up another 3.1% with WES up 0.9% and WEB rising 3.9%. MYR struggling after the recent robo update. Tech better, WTC up 2.5% and XRO doing well as the All –Tech Index rose %. Resources out of favour today. BHP down 1.1% and FMG tumbling another 3.3%. Gold miners better as bullion held records, NST up 3.1% and GMD up 3.2% with GOR bouncing back 2.1%. Lithium stocks saw the shorts stay their hand, LTR down 4.8% and PLS off 2.5%. MIN continue to disappoint, down 2.1%. Uranium stocks finding buyers again. DYL up 5.2% and BOE up 8.4%. Have we seen the bottom here? In corporate news, NAN rose 14.0% after US regulators approved its tool designed to clean endoscopes. ARU bumped 2.7% higher on an offtake deal and CWY jumped 2.0% on an acquisition. TPG also got the Vocus nod, up 5.9%. On the economic front, unemployment came in at 4.1%. Pretty much in line. Asian markets saw some profit taking. Japan down 0.3%, China off 0.4% and HK down 1.2%. 10-year yields slipped to 4.38%.

HIGHLIGHTS

  • Winners: NAN, BOE, EBR, MSB, CU6, TPG. BLX
  • Losers: JDO, MYR, SPK, JHX, LTR, IEL, FMG
  • Positive Sectors: Banks. Healthcare. REITs. Retail. Tech. Uranium. Gold.
  • Negative Sectors: Iron ore. Lithium.
  • ASX 200 Hi 7931 Lo 7833
  • Big Bank Basket: Stronger at $238.79 (+1.9%)
  • All-Tech Index: Up 2.2%.
  • Gold: Rallies to new record. AUD$4814
  • Bitcoin: Better at US$85785
  • 10-year yield falls to 4.37%.
  • AUD: Falls to 63.45c
  • Asian markets: Japan down 0.3%, China off 0.4% and HK down 1.2%.
  • Dow futures up 131 Nasdaq up 131

MARKET MOVERS

  • NAN +14.0% FDA approval for CORIS. Finally.
  • CU6 +6.8% recovering from yesterday’s fall.
  • BOE +8.4% shorts continue to cover.
  • TPG +5.9% ACCC clears Vocus deal.
  • GMD +3.2% gold kicks.
  • ADT +3.0% You got the silver!
  • GQG +3.8% Jain buying still.
  • FND +% raise money at 400c!
  • AKM +27.9% independent tech report.
  • 29M +8.6% going ok.
  • JDO -6.2% sell down.
  • LTR -4.8% profit taking.
  • MYR -5.3% robots playing up!
  • SPK -5.0% ex dividend.
  • NMG -5.9% placement.
  • MEI -6.3% presentation.
  • Speculative Stock of the Day: Nothing on any volume.

ECONOMIC AND OTHER NEWS

The seasonally adjusted unemployment rate remained steady at 4.1% in February, according to data released today.

In trend terms, in February 2025:

  • unemployment rate remained at 4.0%.
  • participation rate remained at 67.0%.
  • employment increased to 14,547,800.
  • The People’s Bank of China kept the 1-year loan prime rate at 3.1% and the 5-year LPR at 3.6%, where they have been since a quarter-percentage-point cut in October.
  • SoftBank Group said Wednesday that it will acquire Ampere Computing, a startup that designed an Arm-based server chip, for $6.5bn.
  • ThyssenKrupp’s warship division expects its market size to triple as defense spending surges.
  • China raises state funding for strategic minerals amid US trade war.
  • EU to exclude US, UK and Turkey from €150bn rearmament fund.

And finally….

I used to work in a Russian napkin factory.

I was part of the serviette union.

Clarence

XXXX