The ASX dropped another 43 points to 8667 (0.5%) in a quiet trading day. Down 1% for the week. Not much fresh news around. Both banks and resources slipped. Iron ore miners under a little pressure after gains this week, BHP down 1,9% with RIO off 0.8% and FMG back down 3.4%. Gold miners fell too as quarterlies dropped. Diggers and Dealers kicks off 4th August. NST fell another 2.8% and EVN down 3.2% with a good quarterly from NEM kicking it 3.8% higher. Copper and lithium stocks lid, LTR down 2.1% and SFR down 1.6%. Oil and gas better, WDS up 3.7% and uranium mixed. Banks continue to suffer, CBA down 0.4% with the Big Bank Basket down to $273.63 (-0,4%) Financials eased, AMP down 4.8% with RPL posting good FUM and rose 9.0%. Industrials flat, tech flat too with the All-Tech Index down 0.1%.

In corporate news, KMD up 4.4% on a new CFO, SDF down 1.5% as it lost its CFO! Nothing on the economic front.

Asian markets eased. 10-year yields steady at 4.35%.

European markets open unchanged. Results in focus. Trump heading to Scotland.

HIGHLIGHTS

  • Winners: RPL, GNG, NXG, IFT, NEM, WDS, QOR
  • Losers: DRO, PNR, CIA, EOS, AMP, DWA, CU6
  • Positive Sectors: Oil and gas.
  • Negative Sectors: Everything else.
  • ASX 200 Hi 8684 Lo 8658 – Narrow range. Down 1% for the week.
  • Big Bank Basket: Down to $273.63 (-0,4%)
  • All-Tech Index: Up 0.1%
  • Gold: Steady at $5103
  • Bitcoin: Drifts to US$115602
  • 10-year yield steady at 4.34%.
  • AUD: Slips to 65.77c.
  • Asian markets mixed. Japan down 0.9%. HK down 0.8%. China down 0.4%.
  • Dow futures up 81, and Nasdaq futures up 27
  • European markets set to open flat. Results in focus.

MARKET MOVERS

  • RPL +9.0% good FUM.
  • QOR +3.7% broker research.
  • NXG +4,6% completes 100% ownership of entire package.
  • NEM +3,8% Quarterly.
  • GDG +2.4% appendix 3Y
  • IMB +32.0% Microcap Presentation.
  • GLN +10.3% Incentive regime in Argentina.
  • RNU +6.1% completes bulk sampling.
  • DRO -10.1% profit taking.
  • MLX -4.6% quarterly report.
  • EOS -4.8% defence slipping.
  • AMP -4,8% reality bites.
  • SRL -8.9% sunsets.
  • CXL -8.2% profit taking.
  • TOR -9.8% profit taking after big run yesterday.
  • ATX -7.6% indigestion from cap raise.
  • CYL -4.1% Noosa presentation.
  • Speculative Stock of the Day: ALB +66.7% 11m @20g/t AU from 17m.

ECONOMIC AND OTHER NEWS

  • Trump arrives in Scotland for a five-day golf tour. Kincade to meet him at the airport.
  • ECB’s Kazaks sees little need for further interest-rate cuts.
  • VW result. Down 3% annual basis. Lowers outlook.
  • Australia and India are likely to expand their free trade agreement in the “very near future,” Trade Minister Don Farrell said.
  • China Premier puts factory boom down to hard work, not subsidies.
  • Samsung is in talks with the likes of OpenAI and Perplexity to integrate more AI services in upcoming Galaxy devices.
  •  Trump has vowed to keep “woke AI” models out of Washington and to turn the country into an “AI export powerhouse” with a new US executive order states that the federal government has the obligation not to procure models that “sacrifice truthfulness and accuracy to ideological agendas.”
  • NatWest results out. Beats on top and bottom. Raises guidance.
  • Chinese kindergartens in crisis as enrolments plunge 25% in 4 years.
  • Zelenskyy signals retreat from power grab after mass protests in Ukraine.

And finally….

Clarence

XXX