The ASX 200 kicked off the short week in fine style up 79 points (0.9%) to 8700 as gold and copper headed for records in Asia. Resource stocks kicked again, BHP up 1.6% with FMG up 1.7%. Gold miners in demand, NST up 4.1% and NEM up 5.2%. BGL was the only loser in the gold sector. Lithium stocks also ran, MIN up 6.2% and LTR pushed 5.5% better as it starts underground mining. Rare earths also doing ok. MEI jumped 32.1% om environmental approvals, LYC up 2.4%. Even uranium stocks glowed today, PDN up 7.0%. Banks were better with CBA up 0.3% and ANZ up 0.7%. The Big Bank Basket up to $275.41 (+0.2%). Healthcare firmed, CSL up 0.7% and PME rallied 2.3%. REITs modestly higher. Industrials mixed, WTC fell 4.2%, XRO flat. REA and CAR slightly better, retail was boosted by NCK up 9.9% on a trading update. APE also rallied hard up 6.3%.

In corporate news, DRO soared 7.9% on new director guidelines on shareholdings. IGO jumped 2.6% on commissioning a new chemical plant at Greenbushes. NXT soared 6.6% on further contract wins.

Nothing on the economic dance card.

Asian markets were firm. Japan up 1.9%, China up 0.8% and HK up 0.2%.

US futures – DJ up 34 Nasdaq up 107

10-year yields steady at 4.79%.

HIGHLIGHTS

  • Winners: NCK, LRV, CHN, NXG, SX2, LTR, ABB
  • Losers: CRN. CU6, LOT, CQE, WBT, DMP.
  • Positive Sectors:  Resources. Banks. Retail.
  • Negative Sectors: Tech.
  • ASX 200 Hi 8709 Lo 8649 – Solid day.  
  • Big Bank Basket: Drifts higher to $275.41 (+0.2%)
  • All-Tech Index: Up 0.9%
  • Gold: Flies to $6640
  • Bitcoin: Rallies to US$88923
  • AUD: Higher at 66.27c.
  • Asian markets:  Japan up 1.9%, China up 0.8% and HK up 0.2%.
  • 10-year yields steady at 4.79%.

MARKET MOVERS

  • NCK +9.9% trading update
  • DTR +7.3% nice bounce.
  • DRO +7.9% new share policy.
  • CHN +8.8% commodity price rise.
  • NXG +8.6% uranium push.
  • MEI +32.1% environmental approvals.
  • A11 +38.7% Ratification process Ewoyaa lease.
  • DXB +8.9% Biomarin acquisition update.
  • BTL -7.4% Carpentaria flow testing.
  • CQE -4.9% gives back Friday’s gain.
  • WTC -4.2% tech under pressure again.
  • HMC -4.8% slips lower.
  • Speculative Stock of the Day: VMM +39.0% environmental approvals.

ECONOMIC AND OTHER NEWS

  • Gold hits record highs on rate cut hopes and more Venezuelan issues.
  • Copper charges towards record high in Asia.
  • China’s top steel industry group has urged the state-backed iron ore trader, China Mineral Resources Group Co., to push for using domestic price benchmarks in supply talks with major miners.
  • China keeps benchmark lending rates steady for a seventh straight month despite weak economic data
  • Uber teams up with Baidu to trial robotaxis in UK.
  • US justice department under fire for removing Trump image from Epstein files.
  • Fraudsters use AI to fake artwork authenticity and ownership.

And finally….

My kids say they want a cat for Christmas.
Normally I do a turkey but hey, if it’ll make ’em happy…

Have a great one

Clarence

XXXX