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Another day, another record high as the ASX 200 rose 47 points to 9174 (0.5%). Banks missed the memo today, the Big Bank Basket fell to $309.01 (-0.5%) with ANZ a winner. MQG too rallied a little, up 1.2% and other financials also rallied, AMP up 3.9% and ZIP rallying another 5.4%. GQG also had a better day up 2.3% with PPT up 8.3% on results. Insurers flat. REITs better, GMG up 1.2% and SCG rising 1.9%. Industrials were better with the healthcare sector rising, CSL up 0.6% and COH rising 0.9%. Tech stocks were back in vogue, WTC jumped another 2.6% with XRO up 8.6% and the All-Tech Index flying 3.8% higher. REA and CAR also caught the optimism. WOW and COL pushed ahead, Agri stocks were also firm following RIC results. ELD up 2.8% and A2M up 1.4%.

In resources, BHP hitting fresh records, up 2.2% with RIO playing catch up rallying 3.7%. FMG fell slightly. Gold miners took a breather with lithium stocks roaring on moves from Zimbabwe to limit exports of critical metals. PLS rallied another 8.3% to record highs, MIN up 4.0% and LTR dropping 8.6% on a large block trade indigestion. BSL dropped 2.3% as the board rejected the SGH bid. Energy stocks eased, WDS down 1.1% and PDN fell 4.2% with DYL off 4.4%.

In corporate news, QAN fell on a weaker outlook, LYC rose 1.2% on better than expected results, NEU jumped 5.7% on DAYBUE sales numbers, WOR stumbled 10.2% on worse than expected results. DRO rallied 8.9% on some new orders out of Europe and SUL jumped 8.4% on better numbers. CTT went flat on results falling 25.6%.

On the economic front, Private new capital expenditure (capex) rose 0.4% in the December quarter.  

Asian markets came back online with Japan up 0.9%. China down 0.2% and HK down 0.4%.

10-year yields steady at 4.70%

US Futures slightly weaker despite Nvidia results beating forecasts. DJ down 0.2% Nasdaq down 0.3%.

HIGHLIGHTS

  • Winners: AX1, RIC, AEF, MP1, NXL, TLX, ELS
  • Losers: WOR, QAN, LTR, OCL, SMR, SHA, ORA
  • Positive Sectors: Iron ore. Lithium. Tech. Healthcare. REITs. Financials.
  • Negative Sectors:  Gold miners. Uranium. Oil and gas.
  • ASX 200 Hi 9203 Lo 9164 New record high. BHP the star.
  • Big Bank Basket: Falls to $309.01 (-0.5%)
  • All-Tech Index: Up 3.8%
  • Gold: Steady at $7295
  • Bitcoin: Rises to US$69318
  • 10-year yields: Steady at 4.70%
  • AUD: 71.29c
  • Asian markets – Japan up 0.3%. China down 0.2% and HK down 0.4%
  • US Futures down slightly.

MARKET MOVERS

  • AX1 +17.1% screams higher after results.
  • RIC +15.9% positive results.
  • MP1 +12.6% another bounce.
  • IEL +7.6% better than expected results.
  • RHC +10.4% results cheer.
  • AEF +13.7% results cheer.
  • DRO +8.9% new orders.
  • PLS +8.3% heading for record high.
  • GYG +7.8% buyback update.
  • XRO +8.6% tech rally.
  • BXN +15.4% stronger results and guidance.
  • EOL +9.2% broker upgrades.
  • WOR -10.2% results disappoint.
  • LTR -8.6% large seller/ block trade.
  • QAN -9.2% results and outlook soft.
  • OCL -8.0% results presentation.
  • CTT -25.6% results fail.
  • ART -5.9% results.
  • ANG -30.2% results presentation.
  • Speculative Stock of the Day: None on any volume.

ECONOMIC AND OTHER NEWS

  • Private new capital expenditure (capex) rose 0.4% in the December quarter to be 7.8% higher than the December quarter last year (seasonally adjusted.
  • IMF urges US to change course on economic policy.
  • Defence and AI spending sends global debt to record $348tn.
  • Top European football clubs lost more than €1bn last year.
  • Aston Martin chair Stroll not considering sale of luxury carmaker, says CEO.
  • South Korea hit another record high on chip stocks and no change to rates.
  • Iranian – US talks begin today. WMD again?

And finally…..

Clarence

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