The ASX 200 closed up 31 points to 8698 (0.4%) as banks were back in the driving seat. CBA up 1.2% with the Big Bank Basket up to $276.18 (+0.9%). MQG rallied 1.0% as financials generally found some love. XYZ up 2.8% and MFG doing well, up 4.6%. RPL up 4.1% too. REITs doing well, GMG up 0.5% and SCG rising 0.8%. Industrials also firm, SGH up 2.2% with retail better, WES up 0.6 % and WOW up 0.8%. Tech better, WTC up 0.3% and the All–Tech Index up 1.0%. Healthcare too in demand, CSL up 1.0% on trade deal, RMD rising 1.0%. Old Skool platforms better too, CAR up1.7 % and REA rising 1.3%. Resources were mixed, the shocker from BOE falling 44.0% as it warned on future production. Shorts had a ball in PDN, DYL and lithium stocks tumbled as Asian prices dropped hard. LTR down 8.0% and PLS off 11.7%. Gold miners were mixed, NEM up 4.5% on broker upgrades, the rest in the doldrums, GMD down 1.8% and RMS off 4.4%. Coal stocks also smacked down, WHC and YAL hit hard on a court ruling.

In corporate news, WTC has a new CEO, HLO rose 14.1% after an earnings upgrade. BUB too has a new CEO. Nothing on the economic front.

Asian markets mixed, Japan down 1%, HK up 0.4% and China up 0.1%.

10-year yields steady at 4.34%.

HIGHLIGHTS

  • Winners: MYR, GNP, MFG, EBR, NEM, GDG, RPL
  • Losers: BOE, PLS, BMN, VUL, DYL, LTR, IGO
  • Positive Sectors: Banks. Financials. Healthcare. REITS. Industrials.
  • Negative Sectors: Iron ore. Lithium. Uranium. Coal.
  • ASX 200 Hi 8705 Lo 8674
  • Big Bank Basket: Up to $276.18 (+0.9%)
  • All-Tech Index: Up 1.0%
  • Gold: Steady at $5093
  • Bitcoin: Drifts to US$119615
  • 10-year yield steady at 4.34%.
  • AUD: Slips to 65.63c.
  • Asian markets: Japan down 1%, HK up 0.6% and China up 0.1%.
  • Dow futures up 219 and Nasdaq futures up 160.
  • European markets set to open up 1.1% on trade deal.

MARKET MOVERS

  • NEM +4.5% broker upgrade.
  • RPL +4.1% broker upgrade.
  • GDG +4.5% going well.
  • DMP +3.1% change of director’s interest.
  • CU6 +2.4% placement at premium.
  • SGQ +5.1% capital raise opens door to drilling.
  • HLO +14.1% earnings update.
  • BOE -44.0% warns on production.
  • PLS -11.7% LTR -8.0% lithium stocks under pressure.
  • PDN -4.4% DYL -8.4% follow BOE lower.
  • ASM -18.1% capital raise.
  • Speculative Stock of the Day: Nothing on any volume today.

ECONOMIC AND OTHER NEWS

  • EU – US trade deal in focus. VDL now has to sell it to the leaders.
  • Samsung will produce AI semiconductors for Tesla. in a new $16.5 billion pact that marks a win for its underperforming foundry division.
  • Jiang Hengrui rallied to their highest levels in four years after GSK Plc agreed to pay $500 million upfront for the company’s potential chronic lung disease treatment.
  • Lithium carbonate traded on the Guangzhou Futures Exchange rose by its daily limit of 8% on Friday, capping a 14% gain for the week.  The exchange issued a notice today to rein in speculation. Futures limit down today!
  • JPMorgan spooks fintechs with plans to charge for access to customer data.
  • Aid cuts are driving migrants to Europe, warns UN refugee chief.
  • China has accused the former head monk of its most famous Buddhist temple of embezzling funds and sexual misconduct. Shi Yongxin, was the abbot of the Shaolin Temple until he lost his ordination.
  • Senior U.S. and Chinese negotiators set to meet in Stockholm today to tackle longstanding economic disputes at the centre of the trade war. The Stockholm talks, led by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng.

And finally….oldies but goldies

ATTORNEY: What was the first thing your husband said to you that morning?
WITNESS: He said, ‘Where am I, Cathy?’
ATTORNEY: And why did that upset you?
WITNESS: My name is Susan!
_______________________________
ATTORNEY: What gear were you in at the moment of the impact?
WITNESS: Gucci sweats and Reeboks.
____________________________________________
ATTORNEY: Are you sexually active?
WITNESS: No, I just lie there.
____________________________________________
ATTORNEY: What is your date of birth?
WITNESS: July 18th.
ATTORNEY: What year?
WITNESS: Every year.
_____________________________________
ATTORNEY: How old is your son, the one living with you?
WITNESS: Thirty-eight or thirty-five, I can’t remember which.
ATTORNEY: How long has he lived with you?
WITNESS: Forty-five years.
_________________________________
ATTORNEY: This myasthenia gravis, does it affect your memory at all?
WITNESS: Yes.
ATTORNEY: And in what ways does it affect your memory?
WITNESS: I forget.
ATTORNEY: You forget? Can you give us an example of something you forgot?
___________________________________________
ATTORNEY: Now doctor, isn’t it true that when a person dies in his sleep, he doesn’t know about it until the next morning?
WITNESS: Did you actually pass the bar exam?
____________________________________
ATTORNEY: The youngest son, the 20-year-old, how old is he?
WITNESS: He’s 20, much like your IQ.
___________________________________________