The ASX 200 finished down only 75 points to 7860 (0.9%) as it bounced solidly from support at 7800. The extreme knee jerk reaction on the promises in the Rose Garden saw banks back on the defensive buyers list and companies with little or no overseas exposure did better. CBA rose 1.0% with the Big Bank Basket up to $251.54 (0.2%). ANZ had a shaky start after moves to increase its capital requirements, closing down 1.4% with MQG on the nose off 2.9%. Financial services copped it with GQG off 5.2% and PPT down 4.8%. ZIP remained undone as US consumer confidence woes will continue. NWL hit hard off 8.7%. REITs also reversing some recent gains, GMG off 3.7% and CHC down 4.7%. Healthcare stocks found buyers, CSL up 1.0% and PME rising 2.0%. Industrials eased, WOW and COL better on defensive buyers, WES up 0.3% and REA doing better, up 0.9%. Tech followed US tech lower, WTC off 2.7% with XRO falling 3.4%. The All–Tech Index down 1.2%. Resources were hurt badly, BHP down 3.4% and RIO off 2.7% with MIN falling 9.5% and PLS down another 6.8%. Gold miners were boosted by bullion price rises on tariff uncertainty, NEM up 2.3% and NST up 2.1%. SPR rose 4.4% with WGX also better. Oil and gas stocks fell hard, WDS down 2.9% and BPT off 2.9%. WHC dropped 7.6% on broker downgrades and uranium still toxic, PDN down 1.3%. In corporate news, TWE reassuredno impact from tariffs. CTT smacked 14.5% on serious impact from rising tariffs. Nothing on the economic front although the RBA released its financial stability report. Asian markets fared better than some feared, with Japan down 3.0%. China down 0.7% and HK off 1.6%. AUD stable with bond yields falling to 4.26% in the 10’s.

HIGHLIGHTS

  • Winners: RMS, SPR, DNL, WGX, LYC, SHV, DEG, HSN
  • Losers: ANN, LTR, MIN, EBR, NWL, WHC, CSC
  • Positive Sectors: Gold miners. Banks. Healthcare.
  • Negative Sectors: Iron ore. Lithium. Base metals.
  • ASX 200 Hi 7903 Lo 7768
  • Big Bank Basket: Rises to $251.54(+0.2%)
  • All-Tech Index: Down 1.2%
  • Gold: Rises to $5023
  • Bitcoin: Falls to US$83336
  • 10-year yield fall to 4.26%.
  • AUD: Rises to 62.94c
  • Asian markets: Japan down 3.0%. China down 0.7% and HK off 1.6%.
  • Dow futures down 837 Nasdaq down 629.

MARKET MOVERS

  • RMS +5.2% SPR +4.4% quarterly update.
  • WGX +3.2% gold exposure.
  • JHX +2.8% finding support.
  • RGN +2.4% buy back notification.
  • SM1 +11.3% milk supply secured. Cows happy.
  • QGL +4.3% more info on major project status.
  • LTR -12.5% commodity woes.
  • MIN -9.5% commodity exposure.
  • WHC -7.6% broker downgrade.
  • PLS -6.8% falls continue.
  • GQG -5.2% director’s interest.
  • CTT -14.4% tariff woes!
  • LOT -9.4% change of director’s interest.
  • Speculative Stock of the Day:  Galan (GLN) +38.1% rejects $150m bid.

ECONOMIC AND OTHER NEWS

  • RBA releases financial stability review.
  • China vows to retaliate after hit with at least 54% levies. Vietnam faces duties of 46%, Taiwan 32%, India 26%, Japan 24%. TSMC has an exemption.
  • European Commission President Ursula von der Leyen said that the latest tariffs announced by the U.S. were a “major blow” to the world economy.
  • White House close to approving sale of TikTok’s US unit to investors.
  • UK floats plan for joint European fund to ‘stockpile’ weapons.
  • Nintendo unveils high-priced Switch 2 console as Trump’s tariffs bite.
  • European futures down between 1.4% -2%.

And finally….

I Hate When I Gain 10 Pounds For A Role & Then I Remember I am Not An Actor.

Think I need to lose some weight

I tried to do sit ups earlier and rocked myself to sleep!

Clarence

XXX