The ASX 200 kicked 66 points higher to 8836 (0.8%) as news of a Senate vote to end the shutdown brought risk appetite back. ANZ results helped the banking sector as the market warmed to the transformation story, with the stock hitting record highs, up 3.2%. The Big Bank Basket rose to $295.39 (0.2%) with CBA slipping slightly.

Financials were better, as MQG found some analyst love and ZIP rose 4.5% on Nasdaq listing news. NWL rallied 2.4%, with XYZ bouncing hard, up 6.9%. Insurers firmed; REITs were mixed, with GMG down 1.3% and SCG up 0.7%.

Healthcare was also mixed as CSL fell 0.1% and RMD rose 0.6%. Industrials perked up after a lacklustre start, TLS up 0.6% with QAN rallying 2.3%, and the tech space doing well — WTC gained 6.2 % and XRO rose 1.0%, with the All-Tech Index up %.

Resources were also in demand — gold miners kicked higher, NST up 3.5% and EVN up 3.9%. Lithium stocks enjoyed a day out, PLS up 9.2% and MIN gaining 4.0%. Rare earth stocks were back in favour, LYC up 4.8% and ARU rallying 7.8% to its SPP price. Energy stocks were also in demand, WDS up 1.2% and PDN rose 7.9%, with LOT up 5.9% as uranium found favour.

In corporate news, MND rose 11.0% on a trading update, DOW hit a five-year high on a solid opening higher $750m Chevron deal, and DNL exploded 7.8% higher on improved results. AUB flat on news that CVC Asia joined the fray. AGL rose 1.6% after it agreed to divest its stake in Tilt Renewables. MYX fell 5.9% on news Cosette will appeal the court decision.

Asian markets – HK up 0.9%, China off 0.1% and Japan up 1.3%.  US futures strong on shutdown hopes. Nasdaq up 307 Dow up 98. European markets set for a strong opening.

HIGHLIGHTS

  • Winners: DTR, 4DX, FFM, LTR, MEK, CRN, 29M, MND
  • Losers: PCI, PGC, DUR, PXA, PPM, OPH, VSL
  • Positive Sectors:  Risk. Lithium. Rare earths. Gold. Banks.
  • Negative Sectors:  Supermarkets.
  • ASX 200 Hi 8836   Lo 8782
  • Big Bank Basket: Rises to $295.69(+0.2%)
  • All-Tech Index: Up 1.4%
  • Gold: kicks to $6219
  • Bitcoin: Bounces to US$106133
  • AUD: Rises to 65.28c.
  • In Asian markets – HK up 0.6%, China off 0.2% and Japan up 1%.
  • 10-year yields higher at 4.39%.
  • US futures – Dow up 72 Nasdaq up 303
  • European markets set to open significantly higher on US news.

MARKET MOVERS

  • DTR +16.0% volatility continues.
  • 4DX +13.9% good bounce.
  • LTR +12.8% shorts covering.
  • MEK +12.2% 8m @14.8g/t at Turnberry South.
  • VUL +10.3% solid bounce.
  • ARU +7.8% back to SPP price.
  • MND +11.0% positive trading update.
  • NVA +33.1% AGM presentation.
  • SGQ +19.3% dragon slain?
  • EUR +18.0% critical metals bounce.
  • TMG +19.1% ceasing to be a substantial shareholder.
  • PCI -5.8% NTA.
  • SEK -2.2% looking lost.
  • GMG -1.3% data centre question marks.
  • BRN -7.7% capital raise.
  • AQZ -7.6% broker downgrades and PE no longer interested.
  • Casualty of the Day: MRD -20.8% unwinding rapidly.
  • Speculative Stock of the Day:  SGI +59.7% acquisition of Hardware and Building Trades.

ECONOMIC AND OTHER NEWS

The US Senate looks close to approving the first part fo a deal to reopen the US government. The agreement, which was reached after round-the-clock negotiations over the weekend, would fund the U.S. government through the end of January.

The RBA Deputy Governor, Andrew Hauser, said the local economy was being challenged by an apparent lack of spare capacity . He suggested unexpectedly stubborn inflation and inching-up unemployment, underscored the need for investments and higher productivity.

Hauser laid out three scenarios.

  • Track A: It turns out the economy still has ground to make up and further policy easing may be necessary
  • Track B: There may be little scope for demand growth to rise further without adding to inflationary pressures, and hence there may be little room for further policy easing
  • Track C: Supply capacity of the economy grows and it’s “off to the races”
  • Chinese steelmakers are still flooding the world with record exports, as a rising tide of protectionism is offset by resilient demand in Southeast Asia and growth in new markets in the Middle East.
  • Demand for secure crypto devices soars as hacks hit record.

And finally…..

Hallmark Researchers Say They Are Close To Developing A Second Movie Plot.

If you remove the S from Seven it becomes even. How odd.

Clarence

XXXX