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The ASX 200 falls another 18 points to 8506 (0.2%) in quiet trade. Banks eased back after a stellar run, CBA down 0.2% with ANZ off 2.5% and MQG falling 1.9%. Financials steady, ASX up 0.6%, must be the new logo, Insurers slightly better. REITs too turned up, DXS up 1.0% and CHC up 0.5%. Defensives slipped, WES off 1.6% and WOW and COL eased with TLS down 0.6%. Retailers also fell slightly, JBH off 1.2% and TPW falling 2.6%. Tech eased with the All-Tech Index unchanged.

Resources were mixed, iron ore whipped throughout the day but finished off, RIO down 1.3% and BHP up 0.2%. Gold miners rose after losses this week, NEM up 0.3% and EVN up 0.5% with lithium stocks falling as PLS dropped 5.0%. Uranium stocks stalled, BOE down 4.7% and DYL down 0.6%. Oil and gas mixed, WDS up 0.9%.

In corporate news, PBH in a halt as BBT announced an off-market takeover. BCB crashed % after it announced a possible pause in operations due to prices and royalties.

Nothing on the economic front locally. Japanese inflation rose more than anticipated. Asian markets better, Japan unchanged. China up 0.3% and HK up 1.0% 10-year yields 4.21%.

HIGHLIGHTS

  • Winners: GNG, ZIP, DRO, BOT, DRO, NWH, LIC
  • Losers: MIN, EOS, MMS, CU6, PLS, BOE, ILU, IGO
  • Positive Sectors: Gold miners. Industrials. Healthcare.
  • Negative Sectors:  Banks. Supermarkets.
  • ASX 200 Hi 8527 Lo 8463 Down 42 points this week.
  • Big Bank Basket: Falls to $283.04
  • All-Tech Index: Unchanged.
  • Gold: Falls to $5155
  • Bitcoin: Falls to US$104519
  • 10-year yield steady at 4.21%.
  • AUD: falls to 64.89c.
  • Asian markets: Japan unchanged. China up 0.3% and HK up 1%.
  • European markets to open higher.
  • Dow futures down 83 and Nasdaq futures down 5.

MARKET MOVERS

  • ZIP +5.9% back in favour.
  • DRO +5.5% defence exposure.
  • AX1 +3.9% change of director’s interest.
  • GNG +7.2% EPC contract.
  • STN +10.3% excellent gold intercepts at Apollo Hill.
  • DXB +10.8% good to see, Steve.
  • CTT +8.3%change in substantial holding.
  • EOS -6.1% profit taking. Change in director’s interest.
  • MIN –6.2% Livewire article.
  • PLS -5.0% sellers back.
  • STM -11.8% notice of general meeting.
  • Speculative Stock of the Day: Nothing on any volume today.

ECONOMIC AND OTHER NEWS

  • US markets reopen tonight.
  • Chinese exports of rare earth magnets slumped further in May.
  • Japanese headline inflation came in at 3.5%, lower compared to the 3.6% in April. Rice prices in Japan more than doubled in May, spiking 101.7% year over year and marking their largest increase in over half a century.
  • The so-called “core-core” inflation rate, which strips out prices of both fresh food and energy and is closely monitored by the BOJ, climbed to 3.3% from 3% in the month before.
  • Europe set for Iran talks as Trump signals 2-week window to decide on attack.
  • Canada imposes tariffs on steel and aluminium to curb imports.
  • Elon Musk’s X to offer investment and trading in ‘super app’ push.
  • Spain threatens to derail Nato summit over Trump defence target.

And finally…

Clarence

XXXX