The ASX 200 closed up 2 points to 8636 in a quiet session ahead of a big week in the US. Some signs of confidence returning with banks seeing a resumption of the sell CBA buy the other three switch. The Big Bank Basket fell to $272.47 (-0.4%) as CBA dropped 1.0%. MQG ex-dividend today, down 2.3% with financials slightly firmer, QBE up 0.5% and HUB up 2.7% with NWL gaining. REITs firmed, GMG up 0.5% and CHC up 1.7% with industrials finding their feet, LNW up 3.3% with WTC up 1.2% although XRO fell another 0.1%. Retailers firmed, UNI up 1.7% and PMV up 2.1% with DMP gaining another 5.1%. GYG continue to fall, down 1.8%. Healthcare eased back, RMD under pressure off 2.1%, CSL down 0.8% and SHL slipping 1.5%. Resources were mixed, BHP fell 0.6% on court ruling, RIO and FMG both better on higher iron ore prices in Asia, lithium staged a comeback, PLS up 3.7% and IGO rising 0.9%. LYC also bounced 5.5% with gold miners mixed. No significant damage done. GMD up 2.5% on a broker upgrade. Energy stocks all better, WDS up 0.9% and ALD rising 3.8%. IPX fell 3.0% after a return to trade following a report from Spruce Capital.

PME jumped 4.2% on another $44m deal with Advanced Radiology. Some management changes, RHC rose 1.8% on a new CFO, MSB rallied 5.0% on a new CFO too with FPR better on an acquisition.

Nothing locally on the economic front. RBA board member wrote a column on the RBA mandate. In Japan GDP came in better than expected.

Asian markets weaker with Japan down 0.1%, China down 0.7% and HK off 0.7%.

European markets set to open slightly weaker.

HIGHLIGHTS

  • Winners: CXO, SRL, DRO, 4DX, MAH, EOS, ELD, ARU
  • Losers: FML, KCN, GTK, MEK, PYC, SMI
  • Positive Sectors: Oil and gas. REITs. Lithium. Rare earths.
  • Negative Sectors:  Healthcare.
  • ASX 200 Hi 8636   Lo 8589
  • Big Bank Basket: Down to $272.47(-0.4%)
  • All-Tech Index: Up 1.2%
  • Gold: Slips to $6214
  • Bitcoin: Falls to US$95132
  • AUD: Eases to 65.19c.
  • Asian markets weak. Japan down 0.3%, China down 0.7% and HK off 0.8%.
  • US Futures: Dow up 50 Nasdaq up 185
  • 10-year yields higher at 4.47%

MARKET MOVERS

  • CXO +12.5% lithium continues to move higher.
  • DRO +11.6% bounce is in.
  • SRL +11.8% placement and free two-year option.
  • FPR +5.2% acquisition of Remunerator.
  • ELD +6.3% better than expected results.
  • 4DX +7.6% no news.
  • RAC +5.2% clinical program update.
  • KCN -8.0% TAFTA update.
  • FML -8.9% run comes to an end.
  • IPX -3.0% short sellers report.
  • GYG -1.8% change in substantial holding.
  • LIN -1.5% leadership team strengthened.
  • NYR -9.7% volatility continues.
  • ART -7.5% strategic media partnership.
  • Casualty of the Day:  GEN -45.5% capital raise.
  • Speculative Stock of the Day: CXL +45.2% RIO JV with ZESTY focus.

ECONOMIC AND OTHER NEWS

  • The RBA’s board member Renee Fry-McKibbin wrote a column pushing back at recent commentary on the bank’s dual mandate of sustaining employment and reining in inflation. Fry-McKibbin argued that critics “mischaracterises” the review’s recommendations, stating that “equal consideration” of price stability and full employment does not mean “equal weight”.
  • President Donald Trump said Sunday that House Republicans should vote to require the Justice Department to release its files on Jeffrey Epstein, effectively reversing his position he’d held for months.
  • Trump trade negotiator hits out at EU delays in cutting tariffs and rules
  • China is ramping up green hydrogen capacity after Beijing signaled its continued support for a sector that has struggled.
  • Japan’s economy contracts less than expected in third quarter, helped by consumption – contracts by a smaller-than-expected 0.4% in the quarter ended September compared to the previous three months.
  • On an annualised basis, Japan’s GDP for the third quarter of 2025 fell 1.8%, a softer decline compared with estimates of a 2.5% contraction.
  • Far right poised to win Chile’s presidency.
  • China sends coastguard to disputed islands as row with Japan escalates.
  • Southeast Asia’s largest bank CEO Tan Su Shan (DBS), expects AI to result in an overall revenue bump of more than 1bn Singapore dollars (about $768m) this year, compared to S$750m in 2024.

And finally…..

I ordered a chicken and an egg from Amazon. I’ll let you know.

I lost three fingers on my right hand, so I asked my doctor if I would still be able to write with it.

He said: “Maybe, but I wouldn’t count on it.”

Clarence

XXX