A quieter day as the ASX 200 rose 12 points to close at 8537 (0.1%). Banks were in the doldrums, entering official correction territory as BEN AML issues sunk the sector, CBA dropped 1.2% and NAB off 0.1% with the Big Bank Basket down to $266.70 (0.7%).  Other financials fell, Insurers eased, QBE off 1.5% and IAG falling 1.7%. REITs drifted lower, GMG down 0.7% and VCX off 1.6%. Industrials were a little weaker, WES fell 0.8% with WOW and COL easing back, tech slid, WTC off 1.5% and TNE showing a modest 1.6% gain. The All-Tech Index up 0.8%. Resources were generally positive. BHP rose 1.0% with RIO doing well, up 2.3% and FMG gaining 2.7%. Gold miners enjoying a big jump in AUD bullion, NST up 2.0% and EVN up 3.5% with the uranium sector slightly better and lithium fighting back to square.

In corporate news, DRO rose 14.6% on a ‘new’ EU order, RHC jumped 12.7% after reported revenue and earnings better than expected. WEB took flight after a 72% jump in TTV and SRG romped 6.4% higher on some new contracts. VAU rose 2.2% as it unwound most of its gold hedges. BEN dropped 7.4% on AML issues.

In economic news, ANZ-Roy Morgan Consumer Confidence rose slightly. Highest reading since early September.

Asian markets: Japan steady China up 1.0% and HK up 0.8%. European markets set to open higher again.

HIGHLIGHTS

  • Winners: DRO, RHC, LIN, IPX, OBM, WEB, FML, MEK
  • Losers: BEN, IRE, RAC, HLI, L1G, SMI, CU6
  • Positive Sectors: Iron ore. Gold miners. Uranium. Rare earths.
  • Negative Sectors: Banks. Insurers. REITs. Supermarkets.
  • ASX 200 Hi 8573 Lo 8507
  • Big Bank Basket: Down to $266.70 (-0.7%)
  • All-Tech Index: Up 0.8%
  • Gold: Rallies to $6422
  • Bitcoin: Better at US$88054
  • AUD: Steady at 64.54c.
  • Asian markets: Japan steady China up 1.3% and HK up 0.6%.
  • US Futures: Dow down 49 Nasdaq down 13
  • 10-year yields steady at 4.42%. CPI tomorrow.

MARKET MOVERS

  • DRO +14.6% fresh EU order.
  • RHC +12.7% promising trading update.
  • MEK +8.9% AGM presentation.
  • IPX +10.7% ceasing to be a substantial shareholder.
  • WEB +9.3% positive update. Resignation of CFO.
  • LIN +12.3% volatility continues.
  • SKS +6.3% rally continues.
  • MTM +24.8% solid bounce.
  • RNU +13.2% AGM presentation.
  • BEN -7.4% AML issues.
  • IRE -6.1% denies bid certainty.
  • RAC -4.6% slipping lower. No news.
  • EOS -1.1% under pressure again.
  • BOC -50.0% Paguna update.
  • FWD -9.5% departure of MD and CEO.
  • ARX -7.3% HY results and presentation.
  • IGL -6.0% trading update.
  • Speculative Stock of the Day: ENL +43.5% announced a global partnership with Philips.

ECONOMIC AND OTHER NEWS

  • ANZ-Roy Morgan consumer confidence rose 2.9 points last week to 87.1, its highest mark since early September.
  • ‘Current financial conditions’ (over the last year) was up 0.6pts, while ‘future financial conditions’ (next 12 months) increased 2.0pts.
  • The Australian Bureau of Statistics says it will release the first complete monthly consumer price index (CPI) for October 2025 tomorrow. Markets have priced in inflation to lift slightly to 3.6% year-on-year from 3.2% at the end of the September quarter.
  • Copper edged higher on near-term supply tightness and rising expectations the US Federal Reserve will cut interest rates again next month.
  • Commonwealth Bank head of commodity research Vivek Dhar says lithium prices are cooling slightly after recent rallies, with spodumene spot prices down about 2% and lithium carbonate futures retreating 1% following reports that CATL’s Jianxiawo mine could restart next month.
  • Russia and Ukraine exchanged fire with heavy air raids on Kyiv and assaults on southern Russian areas, just hours after President Donald Trump struck a positive tone on prospects for a ceasefire deal. New 19-point peace plan drafted.
  • Spotify to raise US prices in first quarter of next year.
  • Barrick reaches settlement in gold mining dispute with Mali.
  • Blackrock’s iShares bitcoin fund sees record exodus as crypto heads for worst month since 2022.

And finally…..

This girl said she recognized me from the vegetarian club, but I’d never met herbivore.

DOES THE JELLY IN A DONUT COUNT AS A SERVING OF FRUIT?
ASKING FOR A FRIEND.

Albert Einstein was a great human being, his brother Frank on the other hand…

Clarence

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