The ASX 200 rose 44 points to 8,806, up 0.5%, after a slow start, with the banks finding their feet. For the week, the ASX 200 fell 38 pts. CBA rose 0.5% and ANZ gained 0.8%. The Big Bank Basket rose to $281.06 (0.6%). Other financials also firmed, with MQG up 0.9% and NWL rising 2.2%. ZIP rallied 2.0%. REITs were better, with GMG up 0.2% and CHC rising 2.2%. In the industrials, we saw some profit-taking, with TLS under pressure now that Vicki Brady is back on board from her holiday. WOW and COL were also in profit-taking mode after defensive buying earlier this week. Elsewhere, the healthcare sector pulled back after a strong week, with CSL down 2.1% and RMD falling 0.9%. Technology stocks were under pressure, unable to capitalise on the improved outlook for US software companies, with XRO down 1.3% and WTC falling another 1.8%. The All-Tech Index fell 0.6%.
Resource stocks were the heroes today, as the iron ore miners pushed higher. BHP bounced 2.5%, RIO also recovered after yesterday’s heavy falls, rising 3.8%, while FMG edged up 2.0%. Gold miners were back in the green after this week’s weakness, with EVN up 3.4% and NST gaining 1.7%. Lithium stocks remained under a little pressure, with PLS up 0.4%. Oil and gas stocks eased, with WDS and STO both lower. Uranium stocks were stronger, with PDN up 4.1%, while SLX was one of the standout performers, soaring 9.4%.
In corporate news, INA responded to media reports of an approach from PPC. BVS jumped after it upgraded its FY26 earnings. WTC fell despite reassuring the market on DSV relations. SFR up strongly on an increase in its Black Butte mine life.
There was nothing of note on the local economic front.
Asian markets were mixed with the Nikkei 225 up 1.7%, the Hang Seng up 1.3%, and the CSI index down 0.3%. Kopsi up 4.2% ahead of SK Hynix debut. European futures were narrowly mixed.
US futures were weaker with the Dow up 12 and the Nasdaq down 153.
HIGHLIGHTS
Winners: BVS, SLX, MLX, DYL, BOE, DPM, WBT, BMN.
Losers: PME, EOS, ASB, SDR, TLX, ELS.
Positive Sectors: Banks. Iron ore. Gold miners. Uranium.
Negative Sectors: Industrials. Healthcare. Oil and gas. Tech.
ASX 200 Hi 8822 Lo 8749 Down 38 for the week.
Big Bank Basket: Rallies to $281.06 (+0.6%)
All-Tech Index: Down 0.6%.
Gold: Rises to $5917
Bitcoin: Rises to US$64116
10-year yields: Drifts lower to 4.83%
AUD: Steady at 69.48c
Oil down 0.3%. US Futures ease slightly. European futures narrowly mixed on the open.
MARKET MOVERS
BVS +15.1% earnings upgrade.
SLX +9.4% DYL +7.4% uranium stocks rally.
WBT +7.1% chip jump.
LRV +5.0% gold better.
MI6 +3.3% bounces back a little.
CXU +27.8% uranium exposure.
DTR +12.5% shorts covering for now.
PME -6.3% profit taking.
EOS -6.2% shorts hit back.
KAR -3.4% update on Brazilian oil export tax.
4DX -2.5% cleansing notice.
WTC -1.8% customer clarification.
Speculative Stock of the Day – Nothing on any volumes today. FDC continues higher after its debut yesterday.
ECONOMIC AND OTHER NEWS
SK Hynix ADRs set to trade tonight. Biggest overseas listing ever. Kospi up 4.5%.
The U.S. will continue “technical talks” with Iran and remains committed to finding a solution to the conflict.
US earnings season starts next week.
OpenAI and Google sell AI models to blacklisted China groups.
VW cuts its model line-up in half.
Kevin Warsh picks ex-BoE chief King and tech boss Andreessen to reform Fed.
Goldman Sachs limits prediction market betting for employees.