The ASX 200 finished unchanged at 8361, as US futures improved on the Latest Trump backflip. Gold and uranium are the stand-out sectors, with BOE up 7.3% and PDN rising 8.8%. NST and EVN are both doing well, and Cu pricing is helping, too. Iron ore missed, oil and gas flat, interest stirring in base metals, S32 up % and NIC up %. Banks drifted slightly lower, ANZ down 1.4% and NAB off 0.8%. The Big Bank Basket eased to $271.19 (-0.3%) MQG gained 0.5% with insurers slightly better. Industrials were uninspiring, ORG fell 4.9% on an Octopus downgrade, in the tech space, WTC announced its biggest acquisition to date, debt funded, up 4.7% with the All–Tech Index up 0.4%. In corporate news, ELD dropped 6.7% on more underwhelming results., AX1 announced its chair would retire and GMD bought a gold project from FML.  Nothing exciting on the economic front. Asian markets mixed, Japan up 0.9%, China down 0.7% and HK off 1.1%. 10-year yields falling to 4.39%.

HIGHLIGHTS

  • Winners: DYL, PDN, NXG, BOE, LNW, IPX, SLX, WTC
  • Losers: ELD, MYR, MSB, ORG, VUL, BLX, HMC
  • Positive Sectors: Gold. Uranium.
  • Negative Sectors: Banks. Retail. Healthcare.
  • ASX 200 Hi 8369 Lo 8346. Narrow range.
  • Big Bank Basket: Lower at $271.19 (0.3%)
  • All-Tech Index: Up 0.4%
  • Gold: Slips to $5133
  • Bitcoin: Steady at US$109,475
  • 10-year yield falls to 4.38%.
  • AUD: Rises to 65.21c. Six month high.
  • Asian markets mixed Japan up 0.8%, China down 0.7% and HK off 1.1%.
  • Dow futures are up 280, and Nasdaq futures up 251
  • US closed tonight for Memorial Day

MARKET MOVERS

  • DYL +13.7%, PDN +8.8%, BOE +7.3% uranium news.
  • WTC +4.7% major acquisition.
  • GMD +2.1% buys Laverton gold project from FML.
  • NST +3.0% PNR +2.6% gold sector up.
  • FND +7.4% low volume rally.
  • NMG +7.1% takeover speculation.
  • 4DX +17.3% files submission for CTVQ.
  • ELD -6.7% underwhelms yet again.
  • MYR -6.4% profit taking.
  • CAT -4.0% profit taking.
  • ORG -4.9% Octopus downgrade.
  • RPL -1.9% continues lower.
  • OFX -5.3% sell-off continues.
  • LRV -8.2% IP survey confirms correlation with known mineralisation.
  • Speculative Stock of the Day:  FML+82.6% sale of its Laverton gold project.

And finally….

Clarence

XXX