The ASX 200 wilted slightly from 8400, to close up only 46 points at 8344, touching a 3-month high. Today, it was all about resources as BHP, RIO, and FMG rallied. The gold sector, too, was back in demand, with GMD up 4.4% and NEM rising 3.6% after a bruising week. LYC bounced too much 2.7% with LTR continuing to find friends and shorts covering. Up another 3.2%. In oil and gas, WDS unchanged and STO rose 0.5%, with uranium stocks giving back some recent gains, PDN down 8.0%, and BOE off 7.2%. Banks took a breather with NAB pushing higher again, CBA off slightly, and MQG fell 1.5% with IAG down 2.8%. The Big Bank Basket $267.18 (+0.1%) Financials were stronger, PNI up 2.8% and IFL rising 1.2%.  ZIP is up another 2.4%. REITs also benefitted from lower yields and pushed higher, GMG up 2.9% and SCG rising 2.5%.  Healthcare was better as CSL rose 1.4% with industrials a slight green tinge. TCL is up 0.9%, and QAN is doing well, Retail is, too, ahead of RBA next week. Tech slipped, XRO was down 1.1%, and WTC was off 2.2%. The All–Tech Index is down 0.1%. In corporate news, APX jumped 18.7% on an update at the AGM, NWH shrugged off Valhalla news, and DXS went down 1.1% after APAC moved on breach of contracts.  Nothing locally on the economic front, Japanese GDP fell slightly, and China and HK went down 0.6%. 10-year yields down to 4.45%.

HIGHLIGHTS

  • Winners: PNR, WA1, PDI, RSG, RPL, CYL, VEA
  • Losers: PDN, BOE, DYL, BMN, MSB, CSC, PLS
  • Positive Sectors: Iron ore. Gold miners. REITs. Financials.
  • Negative Sectors:  Tech.
  • ASX 200 Hi 8398 Lo 8310 Up 1.4% for the week.
  • Big Bank Basket: Higher at $267.18 (+0.1%)
  • All-Tech Index: Down 0.1%
  • Gold: Rises to $5008
  • Bitcoin: Steady at US$103688
  • 10-year yield falls to 4.45%.
  • AUD: Eases to 64.26c
  • Asian markets Dow futures flat – Nasdaq flat.

MARKET MOVERS

  • APX +18.7% FY revenue guidance increased at AGM.
  • RPL +5.0% good bounce.
  • LTR +3.2% rally continues.
  • GMD +4.4% bullion bounce.
  • TLX +3.4% pushing higher.
  • TTT +14.8% ceasing to be substantial shareholder.
  • BTR +12.2% kicks again.
  • MM8 +14.6% $27.5m raise to accelerate Au-Cu production.
  • PDN -8.0% BOE -7.2% DYL -6.0% uranium under pressure.
  • AD8 -2.3% profit taking.
  • CSC -3.4% RCF increase
  • EEG -14.6% capital raise presentation.
  • SYR -2.4% profit taking.
  • Speculative Stock of the Day:  RMI +76.9% ASX query response.

ECONOMIC AND OTHER NEWS

  • Japan’s economy contracts for first time in a year as exports fall, shrinking by a more than expected 0.2%.
  • YoY Japan’s GDP expanded 1.7%, the largest expansion since the first quarter of 2023 and a stronger showing compared to the 1.3% growth seen in the fourth quarter.
  • Japan saw record foreign inflows into its equities and long-term bonds in April as investors fled U.S. market.
  • Trump concludes his Middle East tour. Deals, deals, deals and more deals!
  • ANZ has retracted its forecast that an interest rate cut by the Reserve Bank of Australia next week is a “near certainty”, arguing policymakers have reasons to be cautious about loosening monetary policy.
  • Michael Burry’s Scion Asset Management liquidated almost its entire equity portfolio in the first quarter, while taking on fresh bearish wagers on Nvidia and China-related stocks.
  • KordaMentha, the administrators of Whyalla steelworks and adjacent iron ore mines, have secured a clear title to the nearby Whyalla port.

And finally…

Dear Editor

I am a lady aged 26, and my husband is 34. I left my husband with the maid and our 1 year old baby at home this morning on my way to work. After driving for just about 2km from home, my car engine started to over heat; so I decided to go back home to get the other car. When I got into our home to get the other car’s keys, I found my husband in our matrimonial bed with our maid having sex. I don’t know what to do. Am confused. Please help me!!!

Regards

Heart Broken

*Editor’s Advice:*

Dear Heart Broken

Over heating of the engine after such a short distance can be caused by problems associated with the radiator. You need to check the oil and water levels in your engine before you start your journey. You must also make sure your car is serviced regularly to avoid such problems in future. I hope my answer will help solve your problem.

“Whatever you do, always give 100% – unless you’re donating blood

Clarence

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