The ASX 200 pushed 15 points higher to 8580 (0.2%) in another quiet directionless day of trade. Banks were steady with the Big Bank Basket at $263.74 (0.3%), MQG fell 1.2% as the German Cum Div case ramps up. Other financials were mixed with ZIP down 10.6% on some US states querying BNPL fees. REITs rose led by GMG up 0.3% and SCG up 2.2% with industrials mixed, TLS up 0.8% and WOW and COL better. CPU bounced 2.7% with tech stocks easing back again, WTC down 2.3% and TNE continuing to fall. The All-Tech Index dropped 1.2%. In resources, the iron ore miners pushed higher again. BHP up 1.1% and RIO gaining 1.7%. Gold miners were mixed, PRU up 1.4% and VAU doing well. Lithium stocks steady, oil and gas stocks better, WDS up 1.0% and STO rising 0.9%. Uranium sector mildly positive.

In corporate news, CKF fell 3.5% after a trading update, PNR dropped 11.9% as Tulla Resources sold down its stake. MAQ completed its 47MW Sydney AI data centre.

In economic news, the Balance of Payments fell $500m in September quarter. A deficit of $16.6bn.

Asian markets mixed, Japan recovered 0.2% with HK up 0.1% and China down 0.6%.

10-year yields pushed higher again to 4.61%.

US Futures steady.

HIGHLIGHTS

  • Winners: TCG, EOL, PYC, KCN, SHV, WIA
  • Losers: PNR, MI6, ZIP, CHN, CAT, SXE, PDI
  • Positive Sectors: Iron ore. Oil and gas. Uranium. Lithium. Healthcare.
  • Negative Sectors: Tech.
  • ASX 200 Hi 8603 Lo 8569
  • Big Bank Basket: Higher at $263.74 (0.3%)
  • All-Tech Index: Down 1.1%.
  • Gold: Eases to $6444
  • Bitcoin: Bounces to US$87028
  • AUD: Higher at 65.52c.
  • Asian markets, Japan recovered 0.2% with HK up 0.1% and China down 0.6%.
  • 10-year yields higher at 4.61%.

MARKET MOVERS

  • EOL +6.8% broker recommendation.
  • SHV +4.4% going nuts again.
  • A1G +66.7% takeover by Montage.
  • BOC +37.7% volatility continues.
  • ALR +14.3% South Oko trenching commences.
  • TTT +7.5% successful test of solid rocket motor thrust chamber.
  • PNR -11.9% Tulla sells down stake.
  • FAL -13.5% drilling report.
  • RML -11.8% Investor webinar.
  • M16 -10.8% drilling results.
  • ZIP -10.6% US states question BNPL fees.
  • SXE -6.7% loses arbitration.
  • DRO -4.3% sell off continues.
  • DTR -5.2% sold down again.
  • Speculative Stock of the Day: EDU +36.4% FY Guidance upgrade.

ECONOMIC AND OTHER NEWS

  • The current account balance, seasonally adjusted, fell $493m to a deficit of $16,646m. The capital and financial account surplus was $31,062m, an increase of $13,642m on the June quarter 2025 surplus.
  • Australia’s quarterly terms of trade have risen for the first time this calendar year, as a 0.1% fall in export prices was offset by a larger 0.4% fall in import prices. A stronger Australian dollar placed downward pressure on both import and export prices, although for exports this was offset by higher bulk commodity prices
  • Total dwellings approved fell 6.4% to 15,832. Private sector dwellings excluding houses fell 13.1% to 6,253 and private sector houses fell 2.1%, to 9,251.
  • Michael Burry has bet against the shares of Tesla Inc., saying they are “ridiculously overvalued” and warning that founder Elon Musk’s proposed $1 trillion pay package would worsen shareholder dilution.
  • The China Iron and Steel Association urged local ore producers to speed up key projects as the world’s biggest consumer grapples with its dependence on imported supplies.
  • Shares of South Korean auto companies rose Tuesday after U.S. Secretary of Commerce Howard Lutnick confirmed that lower U.S. auto tariffs of 15% on South Korea would retrospectively come into effect, starting Nov. 1.
  • Apple replaces head of AI with executive poached from Microsoft.
  • Head of UK fiscal watchdog quits after Budget leak.

And finally……

My anatomy class was supposed to reassemble a human skeleton, but I hid an arm bone as a joke.
No one found that humerus.

I’ve talked the talk & walked the walk – at this age, I’m just gonna sit the sit.

Clarence

XXXX