A very solid day with the ASX 200 up 100 points to 8946 (1.3%). Most sectors firing. Banks on mortgage growth, resources on commodity prices and CSL on pharma tariff news perhaps? CBA rose 1.7% despite some IT issues, the Big Bank Basket rose to $287.36 (+1.5%). Wealth managers also doing well with GQG up 3.8% and PNI rising 2.6%. PPT up 6.9%. Insurers also firm. REITs sprinted away led by GMG up 2.2% and healthcare had a great day with CSL breathing a small sigh of tariff relief perhaps, up 3.%. Industrials were mixed, QAN up 0.7% with WTC falling another 0.9% as XRO found some support. REA dropped 1,9% as it made an acquisition, looking a bit worried about its CoStar.

Resources were strong as BHP bounced 1.1% and RIO and FMG firmed. Gold miners were back in demand with NST up 3.9% and NEM up 1.7%. GMD ran 3.5% higher. Lithium stocks also doing well, MIN up 4.2% and PLS up 5.1%. Uranium too bid up, LOT up 7.1% and PDN up 5.9%. Some notable losers today in DRO, EOS and 4DX after death defying rally comes to an end.

In corporate news, A1N rose 0.9% on its CEO stepping down. JHX up 1.2% as it defended the indefensible on salaries and incentives. BSL shuffled its board ahead of AGM. On the economic front, the trade balance shrank sharply as gold shipments fell hard. Asian markets muted as China National Day takes precedence. Japan up 1.1%.

10-year yields steady at 4.34%

HIGHLIGHTS

  • Winners: RAC, SBM, BVS, CU6, NXL, LTR, DTR
  • Losers: EOS, DRO, SLC, 4DX, NWS, SOL, RHC, GTK
  • Positive Sectors: Banks. Gold. Lithium. Uranium. Healthcare.
  • Negative Sectors: Not much.
  • ASX 200 Hi 8966 Lo 8885
  • Big Bank Basket: rallies to $287.36 (+1.5%)
  • All-Tech Index: Up 0.4%
  • Gold: eases to $5844.
  • Bitcoin: Better at US$118584
  • AUD: pushes up to 66.17c.
  • In Asian markets – China National Day continues- Japan up 1.1%.
  • 10-year yields steady at 4.34%.
  • US futures – Opening down as US government shuts down. Dow up 5 Nasdaq up 57. Shutdown? What shutdown!
  • European markets set to open around 0.5% higher.  

MARKET MOVERS

  • RAC +45.7% discovery of anti-cancer mechanism of bisantrene.
  • SBM +16.8% research.
  • BVS +12.0% broker upgrades.
  • QOR +8.7% broker upgrade.
  • DTR +9.0% just keeps on going.
  • LTR +9.7% lithium recovers.
  • PEN +29% Ausbiz buy yesterday.  Our piece this morning.
  • ALA +3.1% CAR-T cells eliminate pancreatic cancer cells.
  • JBY +30.5% research tip.
  • DRO -9.8% EOS-13.3% 4DX – 6.6% See this morning’s Henry’s Take.
  • NWS -5.6% flops.
  • SOL -3.7% profit taking.
  • Speculative Stock of the Day: DTM +150% Drilling commences at Coonambula Antimony – Gold project.

ECONOMIC AND OTHER NEWS

  • China closed. US government closed too. Still.
  • EU approves a Drone Wall!
  • South Korean market hots record high. Shares of Samsung hit their highest since January 2021, rising over 4%, while SK Hynix stock surged more than 9% to hit its highest since 2000.
  • Goldman Sachs sees more upside for gold. Sees “large upside risk” to their forecast of $US4000 per ounce for mid-2026 and $US4300 per ounce for the end of next year.
  • Supreme Court blocks Trump from immediately firing Fed’s Lisa Cook.
  • Argentine assets hit by fresh selling amid worries over US bailout.
  • Kazatomprom is considering a new listing to boost its valuation, with Chief Executive Officer Meirzhan Yussupov saying the company wants to make itself more attractive.

And finally…

Clarence

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