Tuesday 29h April – ASX 200 up 74 to 8071 (0.9%) – two-month high – WDS up on LNG commitment – shorts squeezed in resources – Gold miners better | Beeks Downunder-Because not all financial news is boring!

The ASX 200 closed up 74 to 8071 in another strong day pushing to a two-month high. Up 0.9%. All sectors firing, the banks did well with NAB up % and WBC up % as the Big Bank Basket crept to $261.14 (0.4%). Financials also in demand, PNI up 2.3% PPT up 3.1% and MQG up 0.8%. AMP continues to push higher, up another 3.6%. Insurers and REITS firmed, GMG up 1.6% and SCG rising 0.9% with SUN better by 0.7%. Industrials better across the board, BXB bounced back 1.5% with CPU up 1.9% and ORG rising 3.2%. Retail stocks also in demand again, JBH up % and TPW rising %. Travel stocks also better, CTD up 4.3% leading the pack. Healthcare pushed back up too, PME up 2.7% and TLX recovering a little. In resources, iron ore miners gained with FMG quarterly and a broker upgrade helping it rise 5.8% with S32 up 2.6%. The gold sector recovered some of its recent losses with GMD up 5.1% and BGL rising 4.0%. NST quarterly disappointed on production guidance and fell 4.7%. Heavily shorted resource company also squeezed a lot higher, MIN up 13.2% after its quarterly, uranium stocks continue to power ahead, PDN up 8.5% with BOE up 14.3%. Lithium plays also in demand, LTR up 5.6%. WDS rallied 1.5% on its big US LNG project FID. In corporate news, EDV got a new CEO, WHC rose on quarterly production report, AIA fell as it announced it would delay a second runway. Nothing on the economic front. Asian market better, Japan up 0.4%, China down 0.1% and HK up 0.1%. 10-year yields 4.19%.

HIGHLIGHTS

Winners: BOE, DVP, MIN, MAH, NXG, SLX, PDN
Losers: NST, AIA, CYL, HGH, ARU, GNE
Positive Sectors: Banks. REITs. Gold. Tech. Industrials
Negative Sectors: Nothing.
ASX 200 Hi 8077 Lo 7998
Big Bank Basket: Rises to $261.14(+0.4%)
All-Tech Index: Up 1.6%
Gold: Rises to $5165
Bitcoin: Steady at US$94396
10-year yield rises to 4.19%.
AUD: Rallies to 64.24c
Asian markets: Japan up 0.4%, China down 0.2% and HK up 0.1%.
Dow futures up 45 Nasdaq up 30

MARKET MOVERS

DVP +13.3% quarterly response.
MIN +13.2% quarterly report
BOE +14.3% quarterly presentation.
DYL +11.7% PDN +8.5% short covering.
SLX +8.7% uranium getting a push.
RNU +10.3% big rally continues.
BRE +4.7% quarterly report.
NST -4.7% quarterly report and downgrades.
AIA -4.0% no second runway.
CYL -2.8% quarterly report.
29M -12.9% quarterly report.
Speculative Stock of the Day: DY6 +292.9% – Trading halt – High grade gallium potential at Tundulu project clarification perhaps.

ECONOMIC AND OTHER NEWS

European futures opening slightly higher. Deutsche Bank posts 39% jump in first-quarter profit, above expectations.
Swiss pharmaceutical firm Novartis on Tuesday reported better-than-expected first-quarter sales and raised its full-year guidance. Net sales were up 15% on a constant currency basis to $13.2bn, compared to the $13.12bn estimated by analysts.
HSBC announces share buyback of up to $3bn as first-quarter results top expectations. Increases bad loan provisions.
Mark Carney wins Canadian election.
Amazon’s rival to Starlink makes first satellite launch.
Indonesia raises mining levies in blow to nickel producers.
UBS has slashed its year-end target for the S&P/ASX 200 to 8150, from 8850 previously, implying the benchmark index will barely move from current levels.

And finally……