The ASX 200 fought back from early losses to close up 7 points at 8705 (0.1%). Healthcare and industrials firmed, CSL up 0.5% and ALL up 0.5% with the banks slightly weaker. CBA down 0.4% and NAB up 1.2%. The Big Bank Basket down to $276.00 (-0.1%). Financials slid with GQG off 3.3% and ASX down 0.6%. ZIP fell 1.3% and REITS drifted lower. VCX off 1.6% and GMG mixed 0.4%.

Resources once again weaker, iron ore bucked the trend with BHP up 0.3% and RIO unchanged. Gold miners eased, NEM off 1.3% and EVN down 0.6%. Some wins on quarterlies, OBM up 2.2% on results. Lithium stocks down slightly, LTR off 4.1% as it reported its quarterly. Uranium stocks continued to fallout, BOE down another 5.5% and PDN off 5.8%. Oil and gas better with WDS up 1.6% and STO up 2.1%. Coal stocks eased.

In corporate news, VEA tumbled 6.4 as convenience revenue dropped. SFR up 1.6% a better than expected quarterly, LTR fell 4.1% on its report and TAH saw Aware Super exit its stake a few days ago.

Asian markets: Japan down 1%, HK down 1% and China unchanged.

The ASX 200 10-year yields steady at 4.33%. •        European markets set to open up 0.3%. US futures slightly higher.

HIGHLIGHTS

  • Winners: BCI, TEA, CAT, EVT, GWA, ASB, EBR
  • Losers: GGP, VEA, PDN, BOE, DYL, TUA, SLX
  • Positive Sectors: Oil and gas. Healthcare. Insurers.
  • Negative Sectors: Lithium. Gold miners. REITs.
  • ASX 200 Hi 8705 Lo 8644
  • Big Bank Basket: Down to $276.00(-0.1%)
  • All-Tech Index: Up 0.2%
  • Gold: Steady at $5084
  • Bitcoin: Drifts to US$118,752
  • 10-year yield steady at 4.33%.
  • AUD: Slips to 65.23c.
  • Asian markets: Japan down 0.9%, HK down 0.9% and China up 0.2%
  • Dow futures up 76 and Nasdaq futures up 61
  • European markets set to open up 0.4%.

MARKET MOVERS

  • CU6 +2.9% placement at premium draws buyers.
  • CAT +4.1% kicks higher.
  • FLN +10.7% results presentation.
  • AV1 +7.7% quarterly activities report.
  • MCA +7.3% quarterly activities report.
  • GGP -24.0% quarterly reports disappoints.
  • VEA -6.4% trading update
  • PDN -5.8% BOE -5.5% uranium sinking.
  • SLX -5.0% sold down.
  • LTR -4.1% quarterly.
  • FFM -3.1% resource weakness.
  • SRL -17.5% selling continues.
  • WC8 -8.3% Tabba Tabba PFS
  • BIO -8.1% Quarterly report
  • Speculative Stock of the Day: BSA +23.3% Good volume. Quarterly report.  

ECONOMIC AND OTHER NEWS

  • Australian consumer confidence rose slightly last week, lifting 0.4 points to 86.7, according to the latest ANZ-Roy Morgan survey.
  • ANZ expects the Reserve Bank to cut the cash rate in both August and November
  • India overtakes China in smartphone exports to the U.S. as manufacturing jumps 240%, report shows.
  • Europe sets its sights on multi-billion-euro gigawatt factories as it plays catch-up on AI.
  • European leaders are not that happy with the VDL deal.
  • Bitmain Technologies, the world’s largest manufacturer of crypto mining hardware, plans to open its first US facility in the coming months, a strategic pivot riding the “Made in America” boom in digital assets.
  • Fidelity says $US4000 gold price possible.
  • Trump’s EU oil and gas deal is ‘pie in the sky’, energy experts warn.
  • Dutch pension giant pledges $650mn to Octopus Australia.
  • Europe’s roads and rail unfit for war with Russia, EU transport chief warns.

And finally…..

BREAKING NEWS:

A tour bus going to Elvis’s Graceland mansion has crashed. No one was injured, but the passengers were all shook up.

Clarence

XXXXX