Tags

, ,

The ASX 200 finished down 63 points to 7647 after rallying through the day to close on its highs. European futures expected to open slightly higher. For the week the ASX 200 is down 20 points! Banks slipped slightly with the Big Bank Basket down to $244.92 (-0.6%). MQG slid 0.8% and insurers also turned down, QBE down 0.6% and SUN off 1.5%. PNI continued to fall with GQG up 1.5% and ASX up 2.2%. REITs pulled back, GMG down 1.3% and SCG off 2.6%. Industrials were mixed, WES up 2.0% and TLS a star still up 1.1% with WOW and COL slightly former.  Tech eased. WTC down 1.2% and XRO off 0.7%. The All–Tech Index down 1.2%. Resources were easier, BHP off 1.6% with RIO down 1.2%. MIN down 2.0% despite a broker upgrade, gold miners were on fire. NST up 5.5%, EVN up 7.8% and NEM up 5.4%. Bullion pushing higher yet again. JHX resumed its fall down 3.5% with ORI down 3.8%. Oil and gas slipped, WDS down 2.1% and STX off 5.9% with the uranium stocks back under slight pressure again. PDN down 3.0% and BOE flat. Not much on the corporate or the economic front today. Asian markets were mixed, Chinese market seeing support from authorities. Japan down 3.2% with China up 0.5% HK up 1.9%. 10-year yields jumped to 4.39%

HIGHLIGHTS

  • Winners: BC8, OBM, SX2, PDI, EMR, PNRDA, EVN
  • Losers: MSB, DRO, HMC, TAH, LSF, CSC
  • Positive Sectors: Gold miners. Supermarkets.
  • Negative Sectors: Healthcare.
  • ASX 200 Hi 7671 Lo 7525
  • Big Bank Basket: Falls to $244.92(-0.6%)
  • All-Tech Index: Down 1.2%
  • Gold: Pushes to $5186
  • Bitcoin: Falls to US$81460
  • 10-year yield rises to 4.39%.
  • AUD: Eases to 62.00c
  • Asian markets: Japan down 4.5% with China up 0.3% HK up 0.8%
  • Dow futures up 280 Nasdaq up 211

MARKET MOVERS

  • OBM +14,8% gold miner. Plenty of other gold miners doing well.
  • EVN +7.8% gold and copper.
  • SX2 +9.5% Victorian gold miner.
  • SBM +9.5% strong community support at Mt Renewal hearing.
  • MSB -9.2% smacked down.
  • DRO -6.8% under pressure.
  • LSF -5.8% NTA
  • LNW -5.1% US sell-off.
  • MVF -35.8% baby mix-up.
  • HMC -6.3% market exposure.
  • Speculative Stock of the Day: Nothing on any volume.

ECONOMIC AND OTHER NEWS

  • European equity futures expected to open better. US futures also positive.
  • JP Morgan, Wells Fargo and Morgan Stanley kick off US earnings season.
  • The People’s Bank of China reaffirmed its plans for a “moderately loose” monetary policy in a statement published on Friday, as Beijing gears up for heightened uncertainty amid an escalating global trade war.
  • £4 espresso tests consumer patience, Lavazza warns.
  • US risky debt funds hit by historic outflows as Trump’s tariffs shake markets.
  • Kylian Mbappé sues Paris Saint-Germain over €55m in ‘unpaid wages’ .
  • Danish shoppers, incensed by President Donald Trump’s posturing over Greenland and sweeping trade tariffs, are turning their backs on American products.
  • UBS has revised down its forecast for oil prices for Brent crude by $US6 to $US66 a barrel for 2025, by $US7 to $US65 a barrel for 2026. For 2027, it revised down price forecasts by $US3 to $US70 a barrel.
  • UBS’s global wealth management arm is tipping a positive outlook for US stocks, calling fears of a global economic downturn overdone even as stocks plunge deeper into a correction.

And finally….

Clarence

XXX