ASX 200 rise 1point to 8591 as the RBA kept rates on hold. Bullocks press conference calmed nerves and prompted a late recovery from small losses. The AUD jumped and yields pushed higher on the news, but the reaction was relatively muted. Banks were steady with CBA up 0.8% and the Big Bank Basket up to $282.25 (+0.6%). Insurers were weaker, QBE down 0.6% and SUN off 0.6% as financials drifted lower. Industrials too drifted lower, SGH down 1.5% with PMV off 2.3% as WOW and COL slumped around 1.3%. REITs too fell as yields rose. SCG down 1.3% with GPT off 1.2%. Tech stocks slightly better, WTC up 0.4% and TNE up 1.1% with the All–Tech Index up 0.6%. Resources were mixed with BHP leading the iron ore miners down, off 0.9% with lithium slightly firmer, PLS up 2.1% and gold miners in demand again, NEM up 2.4% and GMD up 2.9% with OBM bouncing hard, up 8% after a huge sell-off. Oil and gas fell, uranium producers firmed, PDN up 0.8% and DYL up 2.6%. In corporate news, PTM rose 3.0% after agreeing to a merger with L1 Capital. On the economic front, the NAB business survey was better than expected. RBA on hold again. Timing not direction the issue. 10-year yields 4.26%

Asian markets better with Japan up 0.3%, China up 0.7% and HK up 0.6%.

HIGHLIGHTS

  • Winners: RSG, OBM, CYL, VAU, KCN, PNR
  • Losers: BOT, HMC, NXL, CU6, A2M, AFG
  • Positive Sectors: Banks. Gold miners. Lithium. Tech.
  • Negative Sectors: REITs. Supermarkets. Retail. Utilities.
  • ASX 200 Hi 8610 Lo 8550. RBA leaves rates unchanged.
  • Big Bank Basket: Higher at $282.25(+0.6%).
  • All-Tech Index: Up 0.6%
  • Gold: Better at $5097
  • Bitcoin: steady at US$108075
  • 10-year yield jumps to 4.26%.
  • AUD: Jumps to 65.41c.
  • Asian markets weaker. Japan up 0.3%, China up 0.7% and HK up 0.6%.
  • Dow futures up 2 and Nasdaq futures up 36.
  • European markets set to open flat

MARKET MOVERS

  • RSG +9.6% broker upgrade.
  • VAU +7.8% media talk of takeover.
  • OBM +8.0% oversold bounce.
  • BC8 +5.7% Kal East drilling update.
  • DTR +18.0% kicking again.
  • MM8 +6.7% High-grade gold and copper at Harbour View.
  • AHC +8.5% change in substantial holding.
  • BOT -53.2% Sofdra launch update.
  • QOR -2.2% drifts lower.
  • CRN -6.5% flopping back.
  • HMC -5.4% sell-off continues.
  • GLF -1.2% trading policy.
  • Speculative Stock of the Day:  AQC +420% – Response to ASX ‘Please Explain’.

ECONOMIC AND OTHER NEWS

  • RBA leaves rates unchanged in shock decision. Click here for full statement
  • Trump says US will send Ukraine more arms.
  • Shein files for Hong Kong IPO to pressure UK to save London listing.
  • Trump administration denies staff cuts hampered Texas flood alerts.
  • Japanese Prime Minister Shigeru Ishiba said the latest tariff announcement was “truly regrettable.”

And finally….

Clarence

XXXX