The ASX 200 closes up 60points at a record high of 8737 (0.7%). Resources firm but not charging, iron ore coming off the boil slightly, BHP up 0.8% with FMG up 2.3%. Gold miners were better, NEM up 1.9% and EVN rising a more modest 0.9%. S32 rallied 3.0% with ILU also doing well on production numbers, up 4.1%. Lithium stocks slipped with PLS down 2.4% and LTR off 3.6%. Oil and gas mixed, WDS up 1.5% on production numbers, STO down 0.8% and coal stocks soaring, WHC up 6.5% and NHC up 2.1%. Uranium under pressure with PDN down 11.3% on production report. Banks found buyers, CBA up 0.5% and ANZ outperforming again up 2.5% with the Big Bank Basket up to $274.18 (+0.8%). Financials firmed, ASX up 1.3% and insurers better, AMP saw profit taking off 1.8%. REITs firmed, healthcare better, CSL back in the green up 0.6% and RHC rising 3.2% with TLX getting whacked 15.1% on SEC inquiry. Industrials firm across the board, REH up 3.8% and JBH up 1.8% with retailers better, tech mixed, WTC up 0.8% and the All–Tech Index rose 0.3%.

In corporate news, VUL rallied 3.7% on funding news, ALD rose 3.3% on resilient NZ earnings. Nothing on the economic front locally. Japanese trade deal in focus.

Asian markets strong. Japan up 3.9% on trade deal. HK up 1.4%. China up 0.6%.

HIGHLIGHTS

  • Winners: WHC, AEF, ELD, JHX, IRE, MSB, RMS
  • Losers: TLX, PDN, ARU, FPR, CU6, PYC, BOE, LTR
  • Positive Sectors: Banks. Gold. Iron ore. Coal. Tech
  • Negative Sectors: Lithium.
  • ASX 200 Hi 8749 Lo 8699. Narrow range.
  • Big Bank Basket: Up to $274.18 (+0.8%)
  • All-Tech Index: Up 0.3%
  • Gold: Steady at $5209
  • Bitcoin: Steady at US$118714
  • 10-year yield steady at 4.29%.
  • AUD: Firms to 65.65c.
  • Asian markets mixed. Japan up 3.9% on trade deal. HK up 1.4%. China up 0.6%.
  • Dow futures up 134, and Nasdaq futures up 24.
  • European markets set to open 1.0% higher. Europe tariff deal next? Alphabet and Tesla tonight.  

MARKET MOVERS

  • WHC +6.5% coal doing well.
  • ELD +6.2% big jump.
  • JHX +5.1% US homebuilders.
  • ILU +4.1% production numbers.
  • IEL +3.3% stirring – catch up?
  • AVH +10.1% nice move.
  • GG8 +9.7% swinging higher.
  • 29M +7.9% broker research
  • TLX -15.1% SEC seems to be the issue.
  • ARU -11.1% sell off continues.
  • PDN -11.3% quarterly report.
  • NEU -2.3% profit taking.
  • SRL -5.6% sets with corporate update.
  • FAL -6.8% falls slowing.
  • ATR -10.8% updated Donald project economics.
  • ATX -5.3% $25m capital raising.
  • Speculative Stock of the Day: CDE +38.9% advisory board appointment of former Nvidia executive.

ECONOMIC AND OTHER NEWS

  • 120,844 marriages were registered in 2024, 2.0% more than in 2023.
  • The most popular date to marry was 24/02/2024, with 1,773 marriages on that day.
  • The number of divorces granted in 2024 fell 3.0% to 47,216. 
  • Japanese stocks jump on tariff deal. Car makers breathe sigh of relief. Trump said that Japan will invest $550bninto the United States, adding that the U.S. will “receive 90% of the Profits.”
  • Demand for long-dated Japanese bonds hits 14-year low on PM resignation fears.
  • Chinese Hackers Exploit Microsoft Flaws, US Nuclear Agency Hit.
  • Mike Johnson shuts US House early to avoid Epstein vote.
  • Emerging market borrowing premium over US falls to nearly lowest since 2007.
  • AI demand drives up electricity supply costs in largest US market to record high.

And finally…..

I tried to come up with a carpentry pun that woodwork. I thought I nailed it but nobody saw it.

Clarence

XXXXX