The ASX 200 hit a new record high, up 36 points to 8881(0.4%) as the RBA cut rates as expected. Banks pushed higher with the Big Bank Basket at $284.55 (+0.6%), CBA on pause ahead of results tomorrow. ANZ the standout up 2.2% with other financials firm. ASX up 0.9% and insurers fighting back, QBE up 2.1% and SUN bouncing 2.9%. REITs were mixed but generally up, CHC up 0.8% and SGP up 0.2%. Industrials mixed, JBH bounced well on analyst reports, SGH fell hard on a disappointing outlook. XRO dropped 2.2% as tech went now here with the All–Tech Index up 0.2%. REA fell 0.5% with CAR up 5.0% on broker comments post results. BXB under a little pressure down 1.5%. Resources were mixed, lithium stocks gave back some of the gains from yesterday, LTR down 8.0% and PLS down 0.9%. Iron ore stocks better, BHP up 1.0% as futures in Asia remained firm, FMG up 1.2%. Gold miners mixed as the tariff chaos works through the market. Oil and gas stocks mildly higher, Uranium stocks fell again, DYL in deep red down 3.8%. Coal stocks better, WHC up 2.8%.

In corporate news, SGH disappointed, SWM down 6.7% on results, 360 did well on results and a C-Suite change, SGR announced a new deal for Queen Street and rose 23.6%. OML appointed a new CEO from SBS. On the economic front, the RBA cut rates and remains cautious.

Asia markets heading higher, Japan at record, up 2.2%, China up 0.5% and HK flat. 10-year yields steady at 4.25%

HIGHLIGHTS

  • Winners: TUA, EOS, C79, TYR, SX2, 360, LNW, JBH
  • Losers: AD8, ALK, SGH, CU6, LTR, DGT, VUL, IEL
  • Positive Sectors: Banks. Insurers. Iron ore.
  • Negative Sectors: Industrials.
  • ASX 200 Hi 8886 Lo 8829
  • Big Bank Basket: Up to $284.55 (+0.6%)
  • All-Tech Index: Up 0.2%.
  • Gold: slips to $5155
  • Bitcoin: Falls to US$118695
  • 10-year yield steady at 4.25%.
  • AUD: Slips to 65.00c.
  • Asian markets better, Japan at record, up 2.2%, China up 0.5% and HK flat.
  • US futures – Dow 40 and Nasdaq down 6 – CPI tonight.
  • European markets set to open slightly firmer.

MARKET MOVERS

  • TUA +29.6% exceptionally well supported capital raise. SOL sells down.
  • EOS +13.7% defence spending exposure.
  • TYR +10.6% trading halt. ASX query.
  • 360 +7.8% guidance upgrade and succession.
  • SX2 +8.5% pushing ahead again.
  • LNW +6.0% solid bounce.
  • SGR +23.6% deal reached on Queen Street.
  • VEE +10.1% 6 year $65m contract with ASC.
  • SXE +7.8% contract win.
  • AD8 -10.0% broker downgrade.
  • ALK -9.6% change in substantial shareholding.
  • SGH -8.5% outlook disappoints.
  • LTR -8.0% profit taking.
  • DGT -6.9% profit taking
  • VUL -6.2% profit taking.
  • ETM -7.6% profit taking.
  • INR -10.7% profit taking.
  • DCC -6.3% establishes advisory board.
  • Speculative Stock of the Day: LIN +37.0% still drawing buyers and volume on lithium bounce.

ECONOMIC AND OTHER NEWS

  • RBA cuts rates 25bps as expected. Uncertainty in the world economy remains elevated.
  • China urges firms not to use Nvidia H20 chips.
  • China’s 30-year bond yields rose to the highest since April. Yields on 30-year bonds rose one basis point to 2.01%.
  • Soybeans futures drop on Trump tariff extension.
  • Lithium futures on the Guangzhou Futures Exchange extended gains, although they rose less than daily-limit jump of about 8% seen on Monday.
  • Europe builds for war as arms factories expand at triple speed.
  • Rheinmetall chief says tanks to get cheaper despite defence spending surge
  • Google and IBM believe first workable quantum computer is in sight.
  • Rheinmetall chief says tanks to get cheaper despite defence spending surge.
  • The Nikkei 225 Index hit an all-time high of 42,629.17 on Tuesday, led by energy, technology, financials and utilities sectors.
  • US CPI tonight. Tay Tay announces impending release of new album.

And finally….

If God wanted us to vote, he would have given us candidates.  
Jay Leno
 
The problem with political jokes is they get elected.
 Henry Cate VII
 
We hang the petty thieves and appoint the great ones to public office.   
Aesop
  If we got one-tenth of what was promised to us in these State of the Union speeches, there wouldn’t be any inducement to go to heaven.    
Will Rogers
 
Politicians are the same all over. They promise to build a bridge even where there is no river.
Nikita Khrushchev
 
When I was a boy I was told that anybody could become President; I’m beginning to believe it.
Clarence Darrow
 
Why pay money to have your family tree traced; go into politics and your opponents will do it for you.
Author unknown
 
Politicians are people who, when they see light at the end of the tunnel, go out and buy some more tunnel.
John Quinton
 
Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other.  
Oscar Ameringer
 
I offer my opponents a bargain: if they will stop telling lies about us, I will stop telling the truth about them.
Adlai Stevenson, campaign speech, 1952 
 
A politician is a fellow who will lay down your life for his country.
Tex Guinan
 
I have come to the conclusion that politics is too serious a matter to be left to the politicians.
Charles de Gaulle
 
Instead of giving a politician the keys to the city, it might be better to change the locks.
Doug Larson

Clarence

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