The ASX 200 exploded 118 points higher to 8757 (1.4%) as banks and resources caught a wave of buying. BHP production numbers, coupled with iron ore gains in Asia, helped the Big Australian up 3.0%. RIO up 1.8% with FMG lagging only up 0.5%.  Lithium and graphite stocks flew, LTR up 10.1% and PLS rallying another 8.6%, with MIN up 4.8% and ILU rising 5.0%. Graphite stocks were in demand, SYR up 25.9%, and TLG up 10.0%. Gold miners found some love late in the day, NST up% % with EVN rising % but uranium stocks dipping slightly. Industrials firmed across the board, WES up 1.4% with TCL up 0.9% and SGH rising 3.0%. Healthcare is too in demand, CSL rallying 3.6% on a broker report, and MSB is living up to its name on revenue, up 34.6%. Tech stocks are better, WTC up 1.2%, and XRO rising 1.0%. Banks, as usual, didn’t want to miss out. CBA up 0.9% with WBC rising 1.8% and MQG up 1.3%. The Big Bank Basket up to $286.78 (+1.1%). Financials are also in demand, IFL is better by 5.8% on reports that a deal is close. Insurers rose, REITS better, GMG up 1.5%, and SGP up 0.9%.

In corporate news, ALX fell 0.4% on US supreme court news, FBU rose 3.0% on a business update. Nothing on the economic front local.

Asian markets mixed, Japan down 0.2% ahead of weekend election, HK up 0.8% and China up 0.4%. 10-year yields steady at 4.33%

HIGHLIGHTS

  • Winners: MSB,  CU6, LTR, PLS, ZIP, NXL, IFL, NGI
  • Losers: SHV, EOS, BMN, DVP, WA1, BCI, MPL, EDV
  • Positive Sectors: Everything. Lithium. Graphite.
  • Negative Sectors: Defence.
  • ASX 200 Hi 8635 Lo 8592
  • Big Bank Basket: Up to $286.78 (+1.1%)
  • All-Tech Index: Up 1.4%
  • Gold: Steady at $5137
  • Bitcoin: Steady at US$120,672
  • 10-year yield falls to 4.33%.
  • AUD: Eases to 65.00.
  • Asian markets mixed. Japan down 0.3%, HK up 0.7%, China up 0.3%.
  • Dow futures up 106, and Nasdaq futures up 43.
  • European markets set to open around 0.2% higher.

MARKET MOVERS

  • MSB +34.6% Ryoncil revenue begins. Good news ideed.
  • PLS +8.6% LTR +10.1% lithium bounce.
  • ZIP +7.8% US retail trade numbers.
  • BHP +3.0% quarterly.
  • IFL +5.8% CC Capital firming up to offer.
  • MIN +4.8% iron ore and lithium.
  • SYR +25.9% TLG +10.0% NVX +16.0% graphite plays.
  • BBT +3.3% late surge.
  • EOS -3.8% DRO-2.3% profit taking.
  • SHV -4.6% crop report.
  • MPL -2.5% broker downgrade.
  • SRL -9.8% sunset presentation.
  • 29M -6.1% broker downgrades following quarterly.
  • Speculative Stock of the Day:  FAL +31.7% SX2 potential. Media focus.

ECONOMIC AND OTHER NEWS

  • Iron ore has jumped to the highest price since early April after BHP CEO Mike Henry told investors that commodity demand globally remained resilient due to the Chinese market.
  • China will make almost a third of the world’s cars by 2030, with the most substantial gains expected in emerging markets such as Southeast Asia, the Middle East and Africa, and South America, according to consultancy AlixPartners.
  • Japanese Headline inflation in the country dropped to 3.3%, coming down from 3.5% in May. The so-called “core-core” inflation rate climbed to 3.4% from 3.3% in the month before.
  • The increase in rice prices slowed marginally to a 100.2% increase year over year.
  • President Donald Trump is expected to announce policy guidelines for artificial intelligence that will call for easing regulation and expanding energy sources for data centres.
  • Trump is threatening to sue Rupert Murdoch over WSJ report on the Epstein files.
  • Trump set to open US retirement market to crypto investments.
  • US Congress passes landmark bill to regulate stablecoins.
  • Trump tells justice department to release Epstein testimony.
  • Japan’s Ishiba on the brink in pivotal poll as inflation stokes backlash.

And finally…..

Clarence

XXXX