The ASX 200 shrugged off a negative lead and rose 9 points to 8774 (0.1%) as resources kept the dream alive. Copper stocks were the go. BHP and RIO leading the charge, 3.6% higher as Grasberg issues pushed the focus onto supply issues. S32 also ran 2.7% and SFR was a standout up 7.6%. MIN rallied % as lithium stocks found a little love. FMG unchanged. No copper. Gold miners were sold down in some profit taking, GMD off 2.3% and WGX falling 5.4%. EVN unchanged on its copper exposure. Oil and gas better as crude pushed higher on geopolitical issues, WDS up 2.5% and STO rising 2.1%. Uranium stocks took a breath.

Banks were solid with the Big Bank Basket rising to $277.65 (). MQG got a $321m agreed to reimburse customers involved in its Shield Master Trust problems, insurers lid, QBE down 1.2% and SUN off 3.0%. NWL continued to struggle on the Sentier issue. Industrials were easier, BXB fell 1.2%, QAN dropped 0.8% and WOW and COL both fell close to 0.8%. REITs under pressure, GMG down 1.1% as rates rose slightly following the CPI yesterday. Tech mixed, WTC up 0.2% and healthcare sliding, RMD down 2.6% and RHC off 1.8%.

In corporate news, NEC announced its chair will retire after AGM. PMV reported slightly better than expected results, but Smiggle has some issues. WDS signed a deal with the Japanese for liquid hydrogen deliveries.

Nothing on the economic front. Asian markets slightly firmer, China up 0.9%. Japan up 0.3%, HK up 0.3%.

10-year yields pushed up to 4.34%

HIGHLIGHTS

  • Winners: 4DX, CSC, DVP, SFR, DUR, KAR, CU6, SLX
  • Losers: ALK, RAC, EQT, MPW, CYL, EOS, WGX, DRR
  • Positive Sectors: Copper. Banks. Oil and gas.
  • Negative Sectors: Healthcare. Insurers. Industrials.
  • ASX 200 Hi 8794 Lo 8765
  • Big Bank Basket: Rallies to $277.65 (+%)
  • All-Tech Index: Up 0.2%.
  • Gold: slips to $5670
  • Bitcoin: slips to US$111760
  • AUD: Steady at 65.94c.
  • Asian markets: China up 0.9%. Japan up 0.3%, HK up 0.3%.
  • 10-year yields higher at 4.34%.
  • US futures – Opening slightly lower. DJ down 87 – Nasdaq down 40.
  • European markets set to open up mixed.

MARKET MOVERS

  • 4DX +14.0% on the trot again.
  • SFR +7.6% CSC +% copper exposure.
  • DVP +9.1% Copper
  • KAR +6.1% buy back update.
  • SLX +5.0% enriching lives.
  • TMG +31.8% ACP Patent claims – exploration target defined.
  • ANG +19.6% buyback update.
  • ALA +12.8% MT write-up!
  • AIS +10.5% copper exposure.
  • ALK -10.3% falls again.
  • RAC –8.0% profit taking.
  • EQT -8.0% First Sentier/ Shield issues.
  • LKY -13.8% CEO and COO appointed.
  • EOS -6.3% profit taking.
  • IVZ -26.7% trading halt.
  • Speculative Stock of the Day:  FDR +113.5% transformational farm-in with TIMOR GAP.

ECONOMIC AND OTHER NEWS

  • HSBC said it’s achieved a world-first breakthrough in deploying quantum computing in financial markets. It used International Business Machines Corp.’s most-advanced Heron quantum processor to attain a 34% improvement in predicting how likely a bond will trade at a given price. So is Schrodinger’s cat in the box?
  • European officials fear Trump is preparing to blame them for Ukraine failure.
  • Apple demands EU scrap landmark digital rules.
  • The Trump administration has launched national security investigations into imports of robotics, industrial machinery and medical devices, a move that could pave the way for fresh tariffs.
  • Donald Trump said that he was the victim of a “triple sabotage” Tuesday at the United Nations, where an escalator, teleprompter and microphone all failed to work for him.

And finally…..

Clarence

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