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The ASX 200 jumped 96 points to close at 8796 (1.1%) on a six-week high as Santa seems to have found his plug-in charger. Yesterday was all about the miners, today was all about the banks. CBA rose 2.2% with NAB up 0.9% and the Big Bank Basket back up to $280.18 (1.7%). RBA minutes suggested rate rises and an economy that is doing ok. Maybe too ok. Other financials also did well with MQG up 1.6% and insurers pushing ahead. QBE up 2.0% and SUN up 1.4%. REITs were stars with GMG running hot, up 8.3%, on a $14bn data centre deal, VCX rose 0.8%. Industrials were firm with WES up 1.5% and NCK still feeling loved up 2.8%. ALL rose 1.2% and TAH rallied 1.0% after Macquarie revealed a 5% stake. Tech stocks started to stir at last, WTC up 2.3% and 360 up a modest 2.2%. NXT rose 1.2% and ELS did well up 3.6%.

Resources took a bit of a breather despite gold flying, BHP up 1.1% with FMG down 0.4% and the gold miners mixed. NEM up 1.2% and NST fell 0.6%. Lithium stocks remain in favour, LTR up 3.2%. Uranium stocks steady and oil and gas stocks positive, WDS up 1.2% and STO up 0.7% on higher crude prices.

In corporate news, SWM unchanged as the merger with SXL was approved. CMM fell 1.8% after agreeing to acquire a project from Tempest Minerals. RHC was 2.9% better, on news to acquire national Capital Private Hospitals in Canberra.

On the economic front, RBA Minutes out today. The board has less confidence in its previous assessment that monetary policy is restricting the economy, and that interest rate rises will be considered next year if higher inflation persists. Monthly inflation numbers remain volatile.

Asian markets were firm. Japan up 0.3%, China up 0.5% and HK up 0.2%.

US futures – DJ down 11 Nasdaq up 18

10-year yields eases to 4.76%.

HIGHLIGHTS

  • Winners: 29M, MTM, DRO, GMG, MEK. WAF, CCL. ELS
  • Losers: AUC, CRN, APE. FML, SRL, ASL, PRU
  • Positive Sectors:  Banks. Financials. Insurers. Data centres. Retail.
  • Negative Sectors: Gold a little mixed.
  • ASX 200 Hi 8805 Lo 8717 – Solid day again.  
  • Big Bank Basket: Pushes hard to $280.18 (+1.7%)
  • All-Tech Index: Up 1.0%
  • Gold: Flies to $6726
  • Bitcoin: Slips to US$88175
  • AUD: Higher at 66.70c.
  • Asian markets:  Japan up 0.3%, China up 0.5% and HK up 0.2%.
  • 10-year yields slip to 4.76%.

MARKET MOVERS

  • EOS +7.8% new US order.
  • 29M +11,5% roaring ahead.
  • MTM +9.3% solid bounce.
  • 4DX +2.2% kicks again.
  • BOE +4.4% bargain hunters.
  • CXO +7.4% sell non-core lithium assets.
  • VUL +4.2% kicks higher.
  • BML +8.2% presentation.
  • GBM +10.0% ATAA to spin out Drummond and NSW assets.
  • AIS -1.8% no real news.
  • SVL -21.7% Bowdens update.
  • IVZ -3.7% profit taking.
  • NMG -2.0% change in substantial shareholding.
  • Speculative Stock of the Day: HHR +117% binding scheme arrangement with ACAM for 1.4c cash offer. Unanimously recommended.

ECONOMIC AND OTHER NEWS

  • RBA Minutes – The board has less confidence in its previous assessment that monetary policy is restricting the economy, and that interest rate rises will be considered next year if higher inflation persists. The minutes reveal that the RBA board was divided on whether financial conditions are restrictive,
  • The US Federal Communications Commission will ban most foreign-made drones and critical components for unmanned aircraft systems going forward. The rules will only apply to future drone imports and sales, not those that have already been sold or are in use.
  • President Trump was sued for adding his name last week to that of Washington’s premier art venue — the John F. Kennedy Center for the Performing Arts — without approval from Congress.
  • China’s domestic price for liquefied natural gas fell to a five-year low as inventories grew and demand for heating during winter months remained short of expectations.
  • Hanwha Ocean shares jump 10% after Trump says South Korean firm to build warships for U.S. Navy.
  • The FDA has approved the first-ever GLP-1 pill from Wegovy maker Novo Nordisk.
  • Apollo cuts risk and stockpiles cash in preparation for market turmoil.

And finally……

I finally did it. I bought a pair of shoes with memory foam insoles. No more forgetting why I walk into the kitchen.

Clarence

XXXXX

Happy Christmas

That’s all folks for 2025…back in 2026!