Tags

, , , ,

The ASX 200 finished unchanged at 8809, fighting back from earlier losses as resources found a footing. US futures helped, as did steady markets across Asia. Banks eased back, with CBA down %, leaving the Big Bank Basket at $281.76 (-0.6%). Other financials also weakened, NWL fell 2.2% and SOL dropped 0.8%. REITs were easier too, with GMG down 2.7% and CHC falling 1.3%. WOW and COL slid 1% as defensives were sold down. Healthcare picked up a little, with CSL rising 1.3% and COH up 1.6%. Industrials generally eased, WES flat and TCL dropped 0.8%, with SGH off 1.4%. Tech stocks were mixed, XRO and WTC found buyers, TNE fell 1.3% and NXT was 3.2% easier. All-Tech Index fell 0.3%.

Resources staged a good turnaround, with BHP up 0.6% and FMG up 1.3%, while the gold miners recovered after early losses. Bullion pushed back above US$4,000. EVN rose 3.2% and VAU gained 1.4%. S32 also had a better session, while lithium stocks posted small gains. Oil and gas stocks rose as crude pushed higher, with WDS up 3.0% and STO rallying %. Coal stocks were firm, WHC up %, while uranium stocks were whacked again. PDN fell 6.0% and NXG lost 3.2%.

In corporate news, KKR joined the consortium bidding for SDF. LNW powered 8.0% higher on a guidance update. CTD remains suspended as it tries to negotiate terms with the UK Government to stave off a liquidation event. GMD and VAU agreed terms for their merger.

On the economic front, the ANZ-Roy Morgan Consumer Confidence Index rose slightly. The Westpac-Melbourne Institute Consumer Sentiment Index rose 4.1% to 83.9 in July from 80.6 in June.

Asian markets were better, Japan up 0.5%, HK up 0.3% and China up 1.2%, Kospi up 0.6%.

US futures slightly positive. Oil up 1.7%.

HIGHLIGHTS

  • Winners: SGR, SMR, LNW, BVS, AIS, RFF, SEK  
  • Losers: KCN, DTR, SLX, IMR, WC8, WIA, LIN
  • Positive Sectors: Gold miners. Oil and gas. Coal.Healthcare.
  • Negative Sectors: Banks. REITs. Supermarkets. Uranium.
  • ASX 200 Hi 88089 Lo 8759
  • Big Bank Basket: Falls to $281.76 (-0.6%)
  • All-Tech Index: Down 0.3%.
  • Gold: Falls to $5814
  • Bitcoin: Steady at US$62649
  • 10-year yields: Drifts higher to 4.89%
  • AUD: Steady at 69.32c
  • Oil up. US Futures lower.  

MARKET MOVERS

  • SGR +8.3% No reason.
  • SMR +8.1% coal bounce.
  • LNW +8.0% guidance update.
  • BVS +7.6% buyers back.
  • AIS +5.3% production results.
  • KCN -16.1% smashed again on production issues.
  • SLX -9.5% uranium theme on the nose.
  • DTR -11.1% gives back gains.
  • WC8 -7.5% nine lives?
  • Speculative Stock of the Day – Nothing on any volume.

ECONOMIC AND OTHER NEWS

  • ANZ – Roy Morgan Consumer Confidence:
  • China exports in June rose at fastest pace since 2021 as AI boom.
  • Overall exports rose 27% from a year earlier in U.S. dollar value terms, the strongest since October 2021.
  • Imports grew 36% in June, the largest jump since June 2021.
  • China’s crude imports dropped 41% from a year ago to the lowest level in nearly a decade.
  • Singapore’s economy expands 5.7% in the second quarter, beating expectations.
  • Spain begins Gibraltar airport checks as Brexit reaches the Rock.
  • Netanyahu opponent leads polls ahead of Israeli elections.
  • Wall Street set for biggest haul from investment banking fees in 4 years.
  • Andy ‘Cap’ Burnham confirmed as next UK PM.
  • Happy Bastille Day – ‘Allez Les Bleus’.

And finally…..

I spoke to a bloke who said he identifies as a Supermarket.

He said he has always wanted to be a Supermarket. I asked him how long had this been going on ??

He said ever since he was Lidl

Clarence

XXXX