The ASX 200 slid a mere 3 points to 8846 as the US government shutdown weighed on sentiment. BHP under pressure from the off on news of a halt to iron ore sales in China, falling 2.5% with RIO up 0.5% and FMG doing well, up 1.4%. Lithium stocks under pressure on CATL news of a reopening, MIN fell 3.8%, LTR off 10.7% and PLS falling 6.4%. Copper stocks mixed, SFR up 1.6% and gold miners mostly firm, new record highs for bullion. NST up 0.8%, GMD up 0.7% and WGX rising 10.7% on its 3-year plan. Uranium eased and oil and gas mixed, STO up 0.5%.

Banks eased back slightly, CBA up 0.1% with the Big Bank Basket down to $283.09 (-0.1%). Financials found some friends, SOL up 5.4% and MPL rising 0.6%. Healthcare better, CSL up 0.3% and RMD rising 0.8%. Industrials mixed, BXB up 1.3% with TLS rebounding 0.6%. Retail stocks eased a little, tech mixed, WTC up 0.6% and XRO up 0.6%.

In corporate news, BVS soared 18.2% on guidance improving. APE in a trading halt pending a capital raise and a Canadian acquisition. ASB jumped 5.8% on a US Naval agreement.

On the economic front, nothing locally. Asian markets muted as China National Day takes precedence. Japan down 1%.

10-year yields drifted higher to 4.35%

HIGHLIGHTS

  • Winners: DRO, BVS, 4DX, WGX, WBT, ASB, SX2, SOL
  • Losers: LTR, LOT, VUL, PLS, SRL, LIC, BMN, WYZ
  • Positive Sectors: Gold miners. Tech. Healthcare.
  • Negative Sectors: Lithium. Retail.
  • ASX 200 Hi 8864 Lo 8809
  • Big Bank Basket: slips to $283.09 (-0.1%)
  • All-Tech Index: Up 0.2%
  • Gold: eases to $5853.
  • Bitcoin: steady at US$114,539
  • AUD: steady at 66.00c.
  • In Asian markets – China National Day – Japan down 1%.
  • 10-year yields rise to 4.35%.
  • US futures – Opening down as US government shuts down. Dow down 211 Nasdaq down 137.
  • European markets set to open flat.

MARKET MOVERS

  • BVS +18.2% upgrades guidance.
  • APE – Canadian acquisition and trading halt.
  • DRO +23.2% extraordinary kick again.
  • 4DX +14.1% no reason.
  • WGX +10.7% 3-year outlook presentation.
  • A2M +5.2% cream rises on broker upgrade.
  • MAQ +5.0% broker upgrade.
  • NVA +31.8% kicks again DoW awards US$43.4m to Nova.
  • ASB +5.8% agreement with US Navy on rescue ship program.
  • ELS +29.0% defence exposure.
  • LOT -10.6% profit taking.
  • LTR -10.7% PLS -6.4% lithium under pressure on CATL resumption.
  • ARU -2.5% project funding update.
  • SGQ -12.0% profit taking.
  • PEN -8.3% change of director’s interest.
  • DRE -9.8% profit taking.
  • SXL -6.2% SWM unchanged -merger rethink.
  • Speculative Stock of the Day: TMB +205% High-grade gold in follow-up drilling.

ECONOMIC AND OTHER NEWS

  • US government shuts down. What happens now?
  • BHP will spend $840m to bolster its Olympic Dam underground copper project in South Australia.
  • Taiwan has pushed back on a US request to move chip production stateside to cover half of America’s demand. Vice Premier Cheng Li-chiun said Taiwan has never made a commitment to have the US produce 50% of the semiconductors it needs.
  • Oil steadied after a two-day decline, as traders weighed the possibility that OPEC+ may discuss fast-tracking its next round of supply hikes when members gather this weekend.
  • Lithium stocks fell after regulators approved a reserve report from battery giant Contemporary Amperex Technology (CATL) for its Jianxiawo mine, paving the way for a restart in the fourth quarter.
  • Trump says US cities should be used as military ‘training grounds’.
  • Trump pulls ally EJ Antoni’s nomination to lead statistics agency.
  • Berkshire Hathaway nears $10bn deal for Occidental’s petrochemical unit.
  • James Anderson warns Nvidia’s $100bn OpenAI bet echoes dotcom bubble.

And finally…..

Someone just called my phone, sneezed and then hung up.

I’m getting sick and tired of these cold calls.

Clarence

XXXXX