The ASX 200 gained 1 point to 8548 after giving up early gains. Banks steady with the Big Bank Basket at $281.14. ASX fell 6.7% on an ASIC inquiry, other financials slipped slightly, REITs mixed with GMG up % and SGP down %. Retail stocks fell, APE off 2.2% and MYR down 0.8% with travel stocks finding some support, FLT up 1.2%. Defensives surprisingly fell, WOW and COL down with WES off 0.5% and TLC falling 1.7%. REA and CAR gained as did tech stocks, WTC up 1.7% and the All–Tech index up 0.8%. Gold miners fell as bullion came off and UBS downgraded NST and EVN both off over 8%. The iron ore stocks were unchanged with the stars today, uranium stocks, SLX up 23.9% and BOE gaining 17.7%. Oil and gas stocks also better, STO got a $30bn bid from Abu Dhabi National Oil consortium, KAR worked 2.3% higher. In corporate news, STO bid, THL received a bid as did ADT all doing well.

Nothing on the economic front, Asian markets struggled to make much headway, although Japan was up 1.2%. 10-year yields rose to 4.23%.

European futures opening slightly higher.

HIGHLIGHTS

  • Winners: SLX, DYL, BOE, IPX, PDN, STO
  • Losers: CYL, NST, EVN, WGX, RMS, OBM
  • Positive Sectors: Tech. Oil and gas. Uranium.
  • Negative Sectors: Gold miners.
  • ASX 200 Hi 8579 Lo 8539. Narrow range. Watching and waiting.
  • Big Bank Basket: Steady at $281.14
  • All-Tech Index: Up 0.8%
  • Gold: Falls to $5261
  • Bitcoin: Falls to US$106843
  • 10-year yield rise to 4.23%.
  • AUD: rises to 64.95c.
  • Asian markets: Japan up 1.1%, HK up 0.2%, China unchanged.
  • Dow futures Up 107, and Nasdaq futures up 91

MARKET MOVERS

  • DYL +21.2% BOE +17.7% uranium miners on fire.
  • SLX +23.9% enriched!
  • IPX +17.0% US defence department exposure.
  • STO +10.9% takeover bid from Abu Dhabi.
  • ADT +9.0% takeover approach.
  • THL +56.0% takeover.
  • EEG +14.7% change of name and code.
  • LOT +12.9% uranium exposure.
  • DTR +9.9% back on the up again. Exploration update.
  • CYL -12.4% volatility continues.
  • EVN -8.0% NST -8.2% UBS downgrades.
  • ASX -6.7% ASIC Inquiry.
  • LTR -5.7% profit taking.
  • 4DS -57.1% company chip update.
  • SNT -14.9% Interim data presentation.
  • BBT -7.9% PBH rejects Betr bid.
  • ASM -12.7% presentation and SPP
  • Speculative Stock of the Day: RML 25.7% progressing OTC.

ECONOMIC AND OTHER NEWS

  • Donald Trump directed federal officials to expand efforts to deport migrants in the largest US cities in the face of protests and court challenges.
  • U.S. administration is considering significantly expanding its travel restrictions by potentially banning citizens of 36 additional countries from entering the United States.
  • China’s domestic consumption surprisingly jumped as the economy rode out the tariff rollercoaster in May.
  • Retail sales grew 6.4% last month, the fastest pace since December 2023 and exceeding all estimates, according to official data released Monday. Disappointing industrial output, which climbed 5.8% and slowed from the previous month as tariffs injected trade uncertainty.
  • UK economy facing more headwinds with the BoE expected to keep rates unchanged this week.
  • Taiwan has added China’s Huawei and SMIC to its trade blacklist.
  • Paris air show kicks off. G-7 meeting begins in Canada. Smile and wave boys.

And finally…..

ADULT 
A person who has stopped growing at both ends and is now growing in the middle. 

BEAUTY PARLOUR 
A place where women curl up and dye. 
 
CHICKENS
The only animals you eat before they are born and after they are dead. 

COMMITTEE

A body that keeps minutes and wastes hours. 

DUST
Mud with the juice squeezed out. 

EGOTIST
Someone who is usually me-deep in conversation. 

HANDKERCHIEF
Cold Storage. 

INFLATION
 Cutting money in half without damaging the paper.

MOSQUITO
An insect that makes you like flies better. 

RAISIN
A grape with a sunburn. 

SECRET

Something you tell to one person at a time. 

SKELETON
A bunch of bones with the person scraped off. 

TOOTHACHE
The pain that drives you to extraction. 

TOMORROW
One of the greatest labour-saving devices of today. 

YAWN
An honest opinion openly expressed. 

WRINKLES
Something other people have, similar to my character lines.

Clarence

XXXX