Tuesday 13th January – ASX 200 up 49 – Well off highs – Resources the stars – Banks too – US Futures flat. | Beeks Downunder-Because not all financial news is boring!

ASX 200 kicked another 49 points to 8809 (0.6%) as resources continue to soar, banks joined in too with the iron ore majors recovering. Some selling on the close knocked it off highs. CBA was up 0.5% with NAB flying 1.9% higher and the Big Bank Basket up to $272.19 (0.9%). Other financials and insurers also rallying, except GQG which fell 8.6% on latest FUM results. REITS also firm, GMG up 1.1% and SCG rising 1.2%. Industrials and healthcare were a little weaker, retail stocks under pressure, JBH down 3.0%, COL sliding 1.8% and TPW off another 2.7%. MYR dropped 5.1% and BAP continued lower. Tech stocks continued to ease, WTC eased 0.3%, XRO up 0.4%, but TNE down 0.8%. Resources were the drivers again, BHP up 2.3% with RIO bouncing back 2.2%. Gold miners were firm, EVN up 2.0% and NST up 3.6% with lithium stocks also doing well and rare earths in focus. LYC up 1.9% despite news that the popular CEO is retiring. Uranium stocks better and oil and gas weak, WDS down 1.7%.

In corporate news, EDV fell 2.9% as it forecast pre-tax profits of between $400-411m. FBU reported a modest improvement in the outlook and ZIP dropped 7.6% on US credit card moves from Trump. 4DX in a trading halt with a placement at 380c.

On the economic front, the ANZ-Roy Morgan survey on consumer sentiment was the weakest start to the new year in 15 years.

Asian markets firmed, Japan jumped 3.4% on a potential snap election, China up 0.1% and HK up 1.1%. US futures down slightly.

10-year yields steady at 4.70%.

HIGHLIGHTS

Winners: NMG, EOS, MEI, ELV, SRL, LRV, ASB, SKC
Losers: GQG, QOR, ARU, ZIP, CAT, MYR
Positive Sectors: Iron ore. Lithium. Gold. Uranium. Copper. Banks. REITs.
Negative Sectors: Healthcare. Supermarkets. Retail.
ASX 200 Hi 8556 Lo 8783
Big Bank Basket: Up to $272.19(0.9%)
All-Tech Index: down 0.7%
Gold: Flies to $6851
Bitcoin: Slips to US$91330
AUD: Higher at 67.10c.
Asian markets: Japan closed for ‘coming of age’ day China up 1.6% and HK up 0.9%.
10-year yields steady at 4.71%
Dow Futures slightly lower.

MARKET MOVERS

NMG +21.6% drill results.
EOS +10.3% media coverage.
SRL +7.0% bounces back hard.
LRV +7.0% critical metals exposure.
INR +4.9% lithium exposure.
DTR +4.6% rally continues.
PIQ +18.8% huge run continues. US lab CAP accredited.
GQG -8.6% FUM results.
ZIP -7.6% US credit card interest rate fears.
ARU -7.8% profit taking.
QOR -8.3% tech sell off continues.
FND-28.7% reverses rally. Strategic investment update.
MKR -6.3% profit taking.
Speculative Stock of the Day: NSB +43.5% clinical results success.

ECONOMIC AND OTHER NEWS

Consumer confidence has had its weakest New Year’s release in more than 15 years as it rose 3 points last week to 84.5, ANZ-Roy Morgan data shows.
The four-week average slipped 0.7 points to 83.8 as the “time to buy a major household item” subindex jumped 5.9 points, marking its third-highest reading since early last year.

Macquarie said spodumene, lithium hydroxide and lithium carbonate prices have all jumped since the start of FY26 – up 190 per cent, 150 per cent and 130 per cent respectively. It says spot spodumene prices are now sitting roughly 100 per cent above Macquarie’s calendar 2026 forecasts.
The CME will change the way it sets margins for gold, silver, platinum and palladium futures after a surge in prices and volatile trading.
China is scrutinising how Jane Street Group and other foreign firms participate in its $US859 billion ($1.28 billion) exchange-traded fund market.
Trump announces 25% tariff on countries ‘doing business’ with Iran.
Aluminum traded near its highest level since early 2022, and tin extended a blistering rally. Tin has been the standout performer on the London Metal Exchange so far this year, nearing a record high above $51,000 a ton after it surged almost 40% in 2025.
Japanese market soars on election potential. Yields on the 10-year Japan government bond rose over 5 basis points to 2.15%, while yields on the 20-year surged over 8 basis points to 3.137%.
BlackRock Inc. is cutting hundreds of jobs across the company, becoming the latest Wall Street firm to rein in headcount in recent weeks. The cuts total about 1% of BlackRock’s global headcount and include members of its investment and sales teams.

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