The ASX 200 limped into the Australia Day weekend rising a modest 11 pts to 8860. Down around 44 points for the week. But what a ride! A reverse of yesterday’s moves. Banks eased, CBA down 0.8% and WBC off 0.4%. The Big Bank Basket fell back to $266.78 (-0.6%). Insurers dropped with QBE down 1.8% and SUN off 1.4%. Other financials were mixed, ZIP up 5.2% and XYZ rising 1.0%. GQG drifted 1.0% lower and NWL rallied 4.1% on latest numbers. REITs fell again, SCG down 1.2% and VCX down 1.2% with GMG bucking the trend up 0.9%. Some buyers returned to the tech space as 360 roared 27.4% ahead after posting better than expected numbers. WTC moved 0.3% higher with XRO finding some support, up 3.5%. The All- Tech Index rose 2.2%. Finally, some signs of life. Industrials drifted lower, QAN down 1.5% with RMD falling 2.7% and WOW and COL easing.

In resources, BHP rallied 0.7% on copper price rises, RIO lost 1.5% and FMG was unchanged on broker research. Gold miners soared again, gold bullion the catalyst. NST bounced 5.4% with EVN up 5.3% and GGP soaring 7.6%. Rare earths were slightly better and Greenland exposed stocks did well. EUR up 8.9% and ETM rising 18.8%. Uranium stocks held on to gains, PDN down 0.4% and DYL rising 1.7% with LOTDB doing well, up 13.3%. STO continues its Barossa inspired rally, up 1.3%.

In corporate news, GYG firmed as Uber Eats will now deliver your burrito. AAI fell 0.8% on results. CSC fell 3.4% on a strike at Mantoverde.

Nothing locally on economic news, Japan kept rates unchanged ahead of the snap election.

Asian markets mixed, Japan up 2%, China down 0.5% and HK unchanged. Korea hit a record.

Dow futures up 35 Nasdaq futures up 35 – 10-year yields higher at 4.82%.  

HIGHLIGHTS

  • Winners: 360, LOTDB, CRN, DTR, MTM, IMM, RRL, RXL, MEI
  • Losers: WA1, DRO, MLX, SRL, ASK, EOS, A2M, APE
  • Positive Sectors: Gold miners. Uranium. Tech.
  • Negative Sectors: Banks. Insurers. Supermarkets. Industrials.
  • ASX 200 Hi 8865 Lo 8825 Down 0.5% for the week.
  • Big Bank Basket: Down to $266.78 (-0.6%)
  • All-Tech Index: Up 2.2%
  • Gold: back to $7239.
  • Bitcoin: Slips to US$89940. Dead in the water.
  • AUD: Rampant at 68.48c.
  •  Asian markets mixed, Japan up 0.3%, China down 0.4% and HK up 0.3%.
  • 10-year yields rise to 4.82%
  • Dow futures up 34, Nasdaq up 39.

MARKET MOVERS

  • 360 +27.4% terrific quarterly.
  • MTM +11.0% strong bounce.
  • DTR +12.0% placement at 31c hits the spot!
  • EQR +6.9% rally continues.
  • GGP +7.6% gold price rise.
  • RRL +10.2% good bounce back.
  • GMD +5.4% bullion bounce.
  • MKR +20.0% rally continues.
  • FAL +15.5% quarterly report.
  • ETM +18.8% Greenland exposure.
  • DMP -0.9% now the most shorted stock on the ASX. 17.3%
  • DRO -5.5% profit taking.
  • APE -3.9% still falling.
  • SRL -5.0% volatility continues.
  • M7T -9.1% Veterans Health contract update.
  • CYM -9.4% Capital raise presentation.
  • Speculative Stock of the Day: Nothing on any volume.

ECONOMIC AND OTHER NEWS

  • Long weekend beckons. Anything could happen. Markets closed Monday.
  • Australia’s business activity accelerated in January, driven by faster expansions in manufacturing and services, according to S&P Global’s flash PMI.
  • The composite output index rose to 55.5, up from 51.0 in December, marking the strongest pace of growth since August 2025.
  • Copper climbed toward $13,000 a ton, rising along with other metals on dollar weakness and a broad investor rotation away from currencies and sovereign bonds.
  • NZ Inflation pushed above the target band to 3.1%. Yeah …Nah.
  • TikTok forms U.S. joint venture, names Adam Presser CEO. TikTok CEO Shou Chew will be a director.
  • India’s holdings of US Treasuries have fallen to a five-year low as the nation pushes to support its currency and diversify its reserves.
  • BoJ holds rates unchanged. GDP forecasts were upgraded to 0.9% for the 2025 fiscal year and 1% for fiscal year 2026. the BOJ revealed that board member Hajime Takata had proposed raising rates to 1%, saying that risks to prices in Japan were skewed to the upside.
  • Trump sues JP Morgan for debanking him!
  • Elon Musk’s SpaceX lines up 4 banks for blockbuster IPO.
  • French supertax on wealthy raises only a quarter of planned revenue.

And finally….

Bruce Lee had a brother who is very quiet. His name is Silent Lee.

Clarence

XXXX