ASX 200 had another good day up 42 points to 8904 to a 10-weeek high. For the week we are up around 2.1%. Technology saw buyers return after a period of sub-optimal ‘dogness’. NXT jumped 3.5% and 360 rallied 1.7% with the All-Tech Index up 0.8%. I can’t remember the last time that happened. Banks were firm, CBA up 0.5% and WBC up a massive 1.8% with the Big Bank Basket at $273.68 (+0.7%). Financials generally firm, HUB up 5.3% and PNI raced 5.0% ahead. REITs also firm, GMG up 1.2% and SCG up 1.0%. TLS firmed 0.4%, REA up slightly and healthcare was firm. Supermarkets did well, WOW up 0.5% and COL up 0.7%.

Resources were quieter and a little mixed. Gold miners ran out of puff with NST down 1.0% and GMD off 0.3% but NEM continued 0.7% higher. BHP came off a little, down 0.8% with RIO positive. Lithium stocks came in for some profit taking but uranium was glowing as RBC upgraded the sector. PDN up 4.1% and DYL rising 7.5%.

In corporate news, CYL delivered a record quarterly and a broker upgrade helped. IPX up 2.6% after the US DoW paid a final payment and QUB up 0.4% on news MAM will continue with its exclusivity period. CSC did really well, up 7% on its quarterly production. Many more to come next week.

Nothing significant on the local economic front, international arrivals rose 8.4% on the same month in 2024. Davos next week should be fun! Largest US Delegation in history. Team Trump, Making Davos Great Again.

Asian markets ease back slightly. Dow futures up 108, Nasdaq futures up 100. 10-year yields steady at 4.71%.

HIGHLIGHTS

  • Winners: CYL, 4DX, AYA, DRO, TWE, DYL, CSC, SGR
  • Losers: WIA, CXO, NMG, CRN, LRV, ELV, EQR
  • Positive Sectors:  Banks. Financials. REITs. Supermarkets. Uranium.
  • Negative Sectors: Lithium. Oil and gas.
  • ASX 200 Hi 8916 Lo 8856 ASX 200 up 2.1% for the week.
  • Big Bank Basket: Up to $273.68 (0.7%)
  • All-Tech Index: Up 0.8%
  • Gold: Eases to $6861
  • Bitcoin: Slips to US$95168
  • AUD: Higher at 67.06c.
  • Asian markets:  Japan down 0.1%, China down 0.2%, and HK off 0.3%.
  • 10-year yields steady at 4.71%
  • Dow Futures are slightly higher.

MARKET MOVERS

  • 4DX +12.1% kicks yet again.
  • DRO +7.8% fans only.
  • CSC 7.1+% good production numbers.
  • DYL +7.5% uranium research updates.
  • TWE +7.7% bargain hunters.
  • PNI +5.0% about time! LW article.
  • PDN +4.1% RBC upgrades.
  • CCL +4.3% LW article.
  • AR1 +19.1% Lady Loretta mine acquires copper pipeline.
  • BOC +20.7% must be a copper boom.
  • APX +10.7% quietly pushing up.
  • MKR +13.8% bouncing back.
  • CXO -6.7% profit taking.
  • NMG -6.2% profit taking.
  • SLX -2.8% seller’s win.
  • NVX -15.8% operations update.
  • Speculative Stock of the Day: DAL +37.0% – Greenland Rare earth project.

ECONOMIC AND OTHER NEWS

  • Australia recorded 1.85m international arrivals in November, up 8.4% on the same month in 2024, while departures rose 7.5%to 1.91m, according to the Australian Bureau of Statistics.
  • Carney and Xi meet in China. Looking to bury the Hatchet.
  • China is pulling the plug on a key advantage held by high-frequency traders, removing servers dedicated to those firms out of local exchanges’ data centers.
  • Japanese Prime Minister Sanae Takaichi and Italian Prime Minister Giorgia Meloni agreed to work together on critical mineral supply and elevate their relationship to a new level.
  • Mitsubishi to Buy Aethon US Gas Assets in $5.2bn Deal.
  • xAI sued by mother of one of Elon Musk’s children over sexual images.
  • Trump’s first Venezuela oil sale deal goes to megadonor’s company.
  • Nato troops to be in Greenland on ‘more permanent’ basis.
  • India’s exports to China surge in December while shipments to U.S. decline as Trump tariffs bite. India trade with China stood at US$110.20bn between April and December of 2025, compared to US$105.31bn with the U.S.
  • China just ‘months’ behind U.S. AI models, Google DeepMind CEO says.

And finally….

Clarence

XXXX