The ASX 200 limped to a 13-point rise at 8410 (0.2%) missing out on the US fun as the tariffs got knocked back and Nvidia ran on results. Banks were slightly better with NAB and WBC doing ok, CBA unchanged and the Big Bank Basket up to $272.57 (+0.4%). Financials were strong, MQG up 1.7% and XYZ rising 3.0%. REITs fell, GMG down 1.4% and SCG off 1.1%. Industrials firmed, TCL up 0.4%, WES up 0.2% and TLS pushing ahead up 0.8%. Tech was better but not stunning, WTC up 1.2% and the All-Tech Index up 0.6%. Retail better, TPW up 1.9% and BRG rising 0.4%. Resources were weighed down by BHP and RIO, the ugly sisters, LYC fell 2.1% and S32 off 1.0%. Gold miners were mixed, NST down 0.7% and EVN up 0.8% after a rocky start. Bullion fell on trade news, GMD rose 0.9% as broker upgrades came through. WDS kicked 2.8% on broker optimism on NW shelf deal and oil prices kicking up. Uranium back in the doghouse with DYL off 3.2% and PDN down 5.0%. In corporate news, CIA up 0.5% on record results, RSG fell another 2.4% despite seeking further information from Guinea government. ELD up 1.1% as the ACCC voiced concerns on its acquisition of Delta. Nothing on the economic front, Asian market rallied on the US news. 10-year yields steady at 4.37%.

HIGHLIGHTS

  • Winners: PDI, DTO, CSC, BVS, FFM, MAH, AD8
  • Losers: IPX, SLX, PDN, SIQ, EBO, RF1, BOE
  • Positive Sectors: Banks. Tech. Oil and gas. Financials.
  • Negative Sectors: REITs. Healthcare
  • ASX 200 Hi 8427 Lo 8392 Narrow range again.
  • Last day of the month tomorrow, so far up 3.6%.
  • Big Bank Basket: Higher at $272.57 (+0.4%)
  • All-Tech Index: Up 0.6%
  • Gold: Falls to $5085
  • Bitcoin: Eases to US$107451
  • 10-year yield rises to 4.37%.
  • AUD: Slips to 64.25c.
  • Asian markets mixed Japan up 1.6%, China up 0.7%, and HK up 0.8%.
  • Dow futures are up 570, and Nasdaq futures up 420.
  • European futures off to a strong start, up around 0.8% to 1%.

MARKET MOVERS

  • PDI +8.6% solid bounce.
  • DRO +5.3% positive broker comments.
  • CSC +4.7% Chile upgrades Cu forecasts.
  • ZIP +3.3% US confidence.
  • FFM +4.4% volume builds.
  • LTR +3.3% bargain hunters.
  • ELS +9.7% new drone comms order.
  • FND +9.3% FY25 results investor briefing.
  • EOS +8.0% defence spend.
  • ARX +12.8% results.
  • SLX -5.3% uranium falls.
  • BOE -3.6% DYL -3.2% shorts back.
  • 4DS -11.3% profit taking.
  • LOT -9.8% uranium fizzes.
  • Speculative Stock of the Day: EDU +40% withdrawal of proposed delisting.

ECONOMIC AND OTHER NEWS

  • President Donald Trump’s reciprocal global tariffs were deemed illegal and blocked by the US trade court.  The administration will lodge an appeal.
  • The order applies to Trump’s global flat tariff, elevated rates on China and others, and his fentanyl-related tariffs on China, Canada and Mexico. Other tariffs are unaffected, and include the tariffs on steel, aluminium and cars.
  • Elon Musk steps down from Trump administration. Pension fund investors demand Musk work 40-hour week at Tesla.
  • US to ‘aggressively’ revoke visas of Chinese students.
  • Fed feared that loss of ‘haven’ status would hit US economy.
  • Gold extended declines for a fourth day. Oil surged.
  • South Korea’s central bank cuts its policy interest rate by 25 basis points to 2.5%.

And finally…..

Studies have shown that people who have more birthdays live longer than those that do not have as many.

We should start referring to “Age” as “levels”. Because “I’m at level 31” sounds a lot cooler than just being an old person

Clarence

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