Did you miss me? Bet you didn’t!

The ASX 200 fought back from earlier steeper losses to close down only 12 points at 8853 (0.1%). Banks held firm with ANZ copping a massive $240m fine from ASIC for dodgy conduct over the years. The Big Bank Basket fairly flat at $284.41 (). Wealth managers eased back, HUB fell 2.8% with NWL down 3.1% and SOL falling 5.2% on its last day of trade before merger. REITs generally firm with SGP up 0.6% and BWP up 2.2%. Healthcare remains in ICU with CSL falling another 1.6% and RMD down 1.4%. Industrials showed a tinge of green, SGH up 1.1% and ALL bouncing 2.2% after losses last week. In tech stocks, WTC rose 2.9% after Richard White disclosed a sale of a small parcel! XRO continued to trend lower again, down 0.6% with the All-Tech Index up 0.1%. In resources, Chinese data came in weaker than expected, BHP fell 0.6% with gold miners seeing some profit taking after a huge run in the last few weeks. EVN down 5.3% and NST falling 1.9%. GOR issued a production downgrade and fell 0.3%. Lithium stocks perked up, MIN up 3.2% and PLS being squeezed higher again, up 9.1%. VUL had a great run as shorts covered too, up 11.7%. Mixed in uranium with PDN up 1.8% and BOE flying up 7.9%. Oil and gas stocks showing limited gains, STO up 0.9%.

In corporate news, EHL raced ahead on bid speculation. BUB has a new Chair.

Nothing on the economic front locally. Chinese data came in weaker than expected prompting hopers of more stimulus. Asian markets pushed higher, Japan up 0.9%, China up 0.4% and HK up 0.3%.

10-year yields at 4.27%.

HIGHLIGHTS

  • Winners: DTR, VUL, CVL, PLS, REG, BOE, EHL, IEL
  • Losers: OBM, MTM, EVN, SOL, BKW, HMC, PNR, CMM
  • Positive Sectors: Lithium. Uranium. Tech.
  • Negative Sectors: Gold miners. Healthcare. Wealth managers.
  • ASX 200 Hi 8852 Lo 8794.
  • Big Bank Basket: Falls to $284.41
  • All-Tech Index: Up 0.1%.
  • Gold: Eases to $5473
  • Bitcoin: Steady at US$116575
  • 10-year yield steady at 4.27%.
  • AUD: Up to 66.58c.
  • Asian markets: , Japan up 0.9%, China up 0.2% and HK unchanged
  • US futures – Opening slightly lower. DJ up 51 – Nasdaq up 27
  • European markets set to open up slightly.

MARKET MOVERS

  • DTR +17.3% rally continues.
  • VUL +11.7% lithium power.
  • EHL+7.9% takeover talk.
  • PLS +9.1% lithium running.
  • BOE +7.9% uranium running hot in places.
  • IEL +7.0% shorts covering again.
  • MI6 +9.1% spied at Denver Gold conference
  • AMP +6.5% insurance settlement.
  • FXG +12.5% high grade antimony drill intersections.
  • SRL +15.5% going well again. Huge run continues. Scandium.
  • ATH -4.0% Phase 2 data presentation.
  • WWI -6.4% $17.5m placement.
  • OBM -10.0% gold profit taking.
  • MTM -8.1% profit taking.
  • BKW -4.9% last day. SOL -5.2%
  • Speculative Stock of the Day: KLR +36.4% good volume too on drilling completed in SA.

ECONOMIC AND OTHER NEWS

  • Industrial output and consumption had their worst month yet this year after a sharp slowdown in July. More stimulus needed.
  • Production at Chinese factories and mines expanded 5.2% last month from a year earlier, according to data released by the National Bureau of Statistics on Monday, the smallest gain since August 2024.
  • Chinese retail sales grew 3.4% on year in August, down from 3.7% in the previous month. Expansion in fixed-asset investment in the first eight months of the year decelerated sharply to 0.5%.
  • Aluminum climbed for a seventh session ahead of this week’s Federal Reserve meeting.
  • CATL shares surged as a prominent analyst upgrade and expectations for stronger demand for its energy storage system business fueled bullish bets on the battery maker. JPMorgan raised its earnings estimates for 2025-2026 by roughly 10% to a Street high.
  • China’s curbs on defence metal germanium create ‘desperate’ supply squeeze.
  • Romania condemns Russian drone violation of its airspace.
  • Crypto groups hit out at BoE plan to limit stablecoin ownership.
  • Fitch downgrades France to Merde!

And finally…….

Clarence

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