Wednesday 19th November – ASX 200 falls as banks remain under pressure – Resources rally – Quiet range bound ahead of Nvidia. | Beeks Downunder-Because not all financial news is boring!

The ASX 200 started positively to fade to a loss of 21 points to 8454 (0.3%). Banks showed weakness with more slippage as the Big Bank Basket fell to $264.08 (-1.3%) CBA off 1.3% and ANZ down 2.0%. MQG continues to slide, down 1,4% and HUB off 1.1%. GQG is enjoying a rare moment in the sun, up 9.1% as it is pursuing an anti-AI tilt. Insurers eased, REITs were slightly firmer, GMG bouncing back 1.1% and VCX up 2.0%. Industrials were mixed again, ALL up 0.8% and LNW gaining 4.4%. Retailers fell, TPW down another 2.3%. GYG continues to suffer, off 4.3%, DMP down 0.2% as the shorts move back in. Tech found some bargain hunters, WTC up 0.4% and TNE stumbling around. Unchanged in the end.

In resources, we saw a rebound in BHP and FMG, gold miners were back with bullion up to $6280 and EVN up 2.0% with GMD up 2.9%. Lithium stocks paused, rare earth stocks rose, Oil and gas stocks rose, WDS up 1.2% and uranium stocks modestly better.

In corporate news, DRO, down 19.6%, shot out of the air as its US head left in a hurry. WJL got a 90c NBIO offer from Helloworld, NUF soared 10.8% on stronger guidance and KMD rose 2.1% on Q1 sales.

In economic news, wage growth came in as expected at 3.4%.

Asian markets quietly mixed with Japan up 0.1%, China up 0.2% and HK down 0.5%.

European markets set to open weaker.

US Futures: Dow down 58 Nasdaq down 76

HIGHLIGHTS

Winners: NUF, FML, GQG, PYC, DTR, LYC, MEK, WGX
Losers: DRO, VUL, CAT, MP1, SRL, CU6, SLC
Positive Sectors: Gold miners. Rare earth. REITs. Oil and gas.
Negative Sectors: Banks. Financials.
ASX 200 Hi 8489 Lo 8448 narrow range. Waiting for Nvidia.
Big Bank Basket: Down to $264.08 (-1.3%)
All-Tech Index: Down 0.5%
Gold: Rallies to $6280
Bitcoin: Falls to US$91759
AUD: Eases to 64.80c.
Asian markets mixed, Japan up 0.1%, China up 0.2% and HK down 0.5%.
US Futures: Dow down 58 Nasdaq down 76
10-year yields lower at 4.41%

MARKET MOVERS

NUF +10.8% positive results reaction.
GQG +9.1% having its day in the sun.
FML +9.9% rally resumes.
LYC +5.6% broker upgrade.
MEK +4.9% pops up again.
ARU +3.8% back to SPP price.
DTR +5.9% finds friends.
WJL +16.6% HelloWorld bids 90c in NBIO.
NYR +12.9% volatility continuers.
CRD +16.2% Farm Down and Funding for Mako development.
ATR +8.3% Livewire article.
DRO -19.6% US CEO resigns.
VUL -9.2% positive start to Lionheart Phase 1.
CAT -7.5% broker downgrades.
MP1 -5.6% tech still on the nose.
SLC-4.6% tech sell down.
CSC -4.2% Grasberg restart hits copper short term.
CXL -11.6% profit taking.
Speculative Stock of the Day: ALV +52.2% Massive sulphides intercepted in first drillhole at Touro.

ECONOMIC AND OTHER NEWS

Australian Wage Growth – The seasonally adjusted Wage Price Index (WPI) rose 0.8% this quarter. Annual wage growth to the September quarter 2025 was 3.4%. Annual wage growth remained steady compared to the June quarter 2025 but was slightly lower than this time last year.

Chilean lithium producer SQM delivered the highest quarterly earnings in two years while signaling the global battery-metal market may finally be emerging from a prolonged glut.
A member of a key panel advising Japanese Prime Minister Sanae Takaichi said the central bank isn’t likely to raise its benchmark rate before March.
President Donald Trump said he would formally designate Saudi Arabia as a major non-NATO ally.
Japan’s 10-year bond yields at highest since global financial crisis.
Meta wins US case that threatened split with WhatsApp and Instagram.
Home Depot cites US job and affordability fears as it cuts outlook .
Nvidia results tonight. Stand by.

And finally…

Cassette tapes had a side A and a side B.
So it’s only logical that their successor would be the CD.