The ASX 2090 had a late surge to finish the month with a gain today of 25 points to 8435. ASX records best month since January. Up 3.8%. Banks yet again showed the strength as CBA rose 0.9% with the Big Bank Basket up to $275.55 (1.1%). WBC surged 2.7% and NAB up 1.3% with some month end window dressing. Insurers slid slightly, QBE down 1.3% with REITS up. GMG up 1.3% and VCX rising 1.2%. Industrials found a footing, BXB up 1.0%, WOW and COL firmed, and ORG up 2.1%. Tech slipped slightly with WTC down 1.5% and XRO off 0.8%. Healthcare mixed, In resources, mixed in the majors, BHP up 0.3% and FMG down 1.9%. Gold miners were better, NST up 3.2% with GMD up 4.4%, VAU up 3.5% as some window dressing helped. Lithium stocks slid on a broker downgrade to carbonate prices, PLS down 5.7% and IGO off 5.4%. WDS fell 2.1% and STO off 0.9%. Uranium stock eased back, coal miners fell, WHC off 1.8%. In corporate news, HCW leapt on rent relief for Healthscope, NWH up on a RIO contract and FND down nearly 9% on results. In economic news, retail sales slipped. Asian markets fell with Japan down 0.9%, China down 0.3%, and HK down 1.5%. 10-year yields at 4.26%.

HIGHLIGHTS

  • Winners: CAT, RPL, VGL, OBM, SLX, TEA, SX2
  • Losers: PLS, TLC, IGO, MYR, JDO, ORA, LTR
  • Positive Sectors: Banks. Gold miners. REITs.
  • Negative Sectors: Oil and gas. Insurers. Lithium. Uranium.
  • ASX 200 Hi 8340 Lo 8380
  • Big Bank Basket: Higher at $275.55 (+1.1%)
  • All-Tech Index: Down 0.5%
  • Gold: Higher to $5126
  • Bitcoin: Eases to US$106189
  • 10-year yield falls to 4.26%.
  • AUD: falls  to 64.27c.
  • Asian markets: Japan down 0.9%, China down 0.2%, and HK down 1.5%.
  • Dow futures are down 43, and Nasdaq futures down 42.
  • European futures off to a strong start, up around 0.8% to 1%.

MARKET MOVERS

  • CAT +11.2% jumps again.
  • OBM +7.5% gold miners better.
  • SLX +6.8% end of week bounce.
  • RHC +5.9% Livewire writeup.
  • SX2 +6.1% jumps again.
  • MTM +12.1% notice of general meeting.
  • FML +8.5% result of AGM.
  • ELS +13.2% drone comms.
  • DTR +5.4% another rise.
  • PLS -5.7% broker downgrades lithium prices.
  • IGO -5.4 % LTR -3.2%. Broker downgrades.
  • FND -8.9% results disappoint.
  • WBT -9.9% profit taking.
  • Speculative Stock of the Day: Nothing on any volume today.

ECONOMIC AND OTHER NEWS

Australian Retail Trade

  • The April 2025 seasonally adjusted estimate: Fell 0.1% month-on-month. Rose 3.8% compared with April 2024.

Australian Building Approvals

  • The April 2025 seasonally adjusted estimate:  Total dwellings approved fell 5.7%, to 14,633. Private sector dwellings excluding houses fell 19.0%, to 4,999, while private sector houses rose 3.1%, to 9,349.
  • U.S.-China trade talks “are a bit stalled,” requiring the two countries’ leaders to speak directly, Treasury Secretary Scott Bessent said.
  • China has yet to significantly ease restrictions on rare earths.
  • Foreign tax provision in Trump budget bill spooks Wall Street.
  • Musk steps down from Trump administration. HR exit interview and questionnaire should be interesting.
  • European futures opening flat.

And finally……

Chinese takeout: $25. Getting home and finding out part of your order is missing: riceless.

Clarence

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