Friday 2nd May – ASX 200 jumps on positive China news, up 92 and 3.4% for the week. Banks lead everything else follows. | Beeks Downunder-Because not all financial news is boring!

The ASX 200 kicked another 93 points higher to 8238 (1.1%) as China appears to often its tactics. A big kick in US futures on the news helped. Banks led the way higher for a change. The Big Bank Basket up to $269.96 (+1.6%) ahead of the results kicking off next week. CBA up 1.4% and WBC playing some catch-up up rising 1.9%. MQG finally joined in, and other financials did ok with the exception of XYZ, which cratered 26.7% on a downgrade and disappointing earnings. REITs continued higher led by GMG up 1.4% and SCG up 0.6%. Industrials continued to find strength, WOW up 2.3% and COL up 2.1% with WES up 1.2%. Retail took a breather, but tech was mixed with WTC looking at a potential US acquisition up 0.7%. The All-Tech Index down 0.9% as CPU weighs. Off 4.1%. Travel stocks sold down after CTD issued a warning, off 10.0% dragging WEB down 4.2%. Resources initially languished buy bucked up as China news came through, BHP up 0.7% and FMG rallying 1.1%. Gold miners also picked up with news that GOR had gone into a halt pending a takeover offer potentially, NST finding a base up 0.7% and EVN up 2.9% on copper rallies too. MIN rallied 0.8% with LYC under a little pressure still on Ukraine moves and China holding a olive branch. Oil and gas better, WDS up 2.0% ahead of OPEC+ meeting Monday, uranium stocks continue to push ahead as shorts cover, PDN up 2.8% and BOE up 5.3%. In corporate news, CSC jumped 2.8% on record revenues. On the economic front, retail trade rose 0.3% MoM. Asian markets rose, Japan up 1.2%, HK up 1.6% and China closed for a holiday. 10-year yields steady at 4.20%

HIGHLIGHTS

Winners: CU6, QAL, FCL, PPM, NIC, RPL, NEU, BOE
Losers: XYZ, CTD, ZIP, WEB, CPU, WA1, WGX
Positive Sectors: Everything.
Negative Sectors: Nothing
ASX 200 Hi 8240 Lo 8130 Up 3.4% for the week.
Big Bank Basket: Higher at $269.96 (1.6%) CBA hits record high.
All-Tech Index: Down 0.9% CPU down 4.1% hurts.
Gold: Steady at $5071
Bitcoin: Steady at US$96754
10-year yield rises to 4.20%.
AUD: Rises to 64.13c
Asian markets: Japan up 1.2%, HK up 1.6% and China closed for a holiday.
Dow futures up 225 Nadaq up 265

MARKET MOVERS

CU6 +14.0% bouncing back- change in substantial holding.
NEU +5.4% new executive team appointment.
RPL +6.2% heading higher.
BOE +5.3% shorts continue to cover.
DGT +3.2% data centres back in fashion.
SFR +2.8% change in substantial holding.
IEL +4.4% ceasing to be a substantial holder.
DXB +11.0% continues to kick on licensing deal.
CTT +7.0% becoming a substantial shareholding.
XYZ -26.8% disappoints big time.
CTD -10.0% guidance downgrade.
ZIP -4.9% follows XYZ.
WEB -4.2% follows CTD.
ZEO -12.2% application for quotation.
Speculative Stock of the Day: DTR +200% the ‘Donster’ says buy!

ECONOMIC AND OTHER NEWS

European markets opening strongly.
President Donald Trump plans to unveil his budget proposal for the 2026 fiscal year on Friday and send it to Congress, according to a White House official.
The proposed budget will also include over $160bn worth of cuts in environmental, renewable energy, education and foreign-aid programs
NFP is focus in US. Headline nonfarm payrolls set to have risen +135k last month, earnings seen holding steady at 0.3% MoM, and unemployment also set to remain unchanged at 4.2%.
Xi leaves voice mail saying let’s talk.
Trump signs executive order to end federal funding of NPR, PBS.
Standard Chartered Plc reported first-quarter profit that beat estimates. Adjusted pretax profit for the quarter through March hit US$2.28bn, largely driven by the bank’s wealth and financial markets units.
Small-value packages shipped to the US from China will no longer be exempted from tariffs starting Friday. Packages from China and Hong Kong will now be taxed at a rate of 120% of their value or charged a flat rate. That fee starts at $100 and is set to increase to $200 on June 1.
Europe ready to make Trump a €50bn trade offer, says EU negotiator .
Moët Hennessy to cut 10% of workforce as luxury slowdown bites.