ASX 200 jumps to a record high before seeing profit taking creep in and close up only 5 to 8592 (0.1%). News from the UK on the trade talks were lacking in detail, US futures weaker before the CPI number tonight. Banks eased back with CBA off 0.3% and the Big Bank Basket down to $284.04 (0.2%). MQG fell 0.6% with insurers slightly weaker. REITs were firm, GMG up 0.2% and VCX up 2.4%. Industrials mixed, WES fell 0.6% with QAN falling 1.3% in news it was closing Jetstar Asia. Tech steady with REA up 0.6% and XRO falling 2.3%.  Resources were interesting again, BHP rallied 1.5% with FMG up 3.5%, gold miners fell again despite bullion rising, lithium stocks squeezed higher, PLS upgraded its MRE, up 5.6% and MIN rallying again up 3.2%. Uranium stocks fell, PDN was off 2.7% and LOT was down 8.6%. WDS and STO better, with BPT down 7.5% on a broker downgrade. In corporate news, ZIP raced 15.5% ahead on another guidance upgrade, JLG revealed a NBIO with no price tag attached. MVF bounced after the drubbing yesterday and FBU rose 10.0% on M&A talk. Nothing on the economic front. Asian markets better on trade talk, Japan up 0.4%, HK up 1.1% and China up 0.9%.10-year yields steady at 4.28%.

HIGHLIGHTS

  • Winners: JLG, ZIP, FBU, LTR, RIC, PGC, REH
  • Losers: BMN, LYC, BPT, PDI, SLX, CU6, PRU
  • Positive Sectors: Iron ore. Lithium. REITs
  • Negative Sectors: Healthcare. Insurers. Tech. Gold miners.
  • ASX 200 Hi 8639 Lo 8593. New Record. Hangs on. Just.
  • Big Bank Basket: Lower at $284.04 (-0.2%).
  • All-Tech Index: Down 0.8%
  • Gold: Rises to $5123
  • Bitcoin: Rises to US$109470
  • 10-year yield steady at 4.28%.
  • AUD: rallies to 65.15c.
  • Asian markets: Japan up 0.6%, HK up 0.9% and China up 0.8%
  • Dow futures down 113, and Nasdaq futures down 89.

MARKET MOVERS

  • JLG +17.7% PE goes one better than a NBIO. No price.
  • ZIP +15.5% another upgrade.
  • FBU +10.0% M&A talk.
  • FFM +5.0% cashed up.
  • PLS +5.6% resource upgrade.
  • SX2 +2.7% just keeps going. $1bn valuation now!
  • MVF +11.0% bounce from oversold.
  • SGR +8.3% punters back.
  • ELS +8.2% defence basket play.
  • BRE +7.0% rare earths in Brazil.
  • BMN -9.9% hit hard.
  • QAN -1.3% closing Jetstar Asia.
  • LYC -8.2% rare earth exports to begin?
  • SLX -7.2% uranium slippage.
  • BPT -7.5% downgrade.
  • DTR -21.0%profit taking continues.
  • ANG -13.5% trading update.
  • DXB -5.3% sliding back.
  • Speculative Stock of the Day: No standouts today on any volume.

ECONOMIC AND OTHER NEWS

  • Trade talks in London finish. Commitment to framework. No details again. Disappointing. European futures drift lower. US futures lower too.
  • Marines in LA. Curfews in place.
  • UK government spending plans announced.
  • European banks spend €1.1bn axing senior staff.
  • US CPI tonight.
  • Peter Thiel-backed crypto group Bullish files for Wall Street IPO.
  • Netanyahu’s coalition teeters as ultra-Orthodox allies threaten to dissolve parliament.
  • Nintendo sold 3.5m-plus units of the Switch 2 in just four days, a record-breaking start for the company’s first new console in eight years.

And finally…

I’m not sure who needs to hear this, but Aldi sells Father’s Day cards in packs of five