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The ASX 200 closed up 2 points at 8,793 after staging a decent rally off the lows as Asian markets turned positive and US futures also moved into positive territory.

Banking stocks eased back, with CBA down 0.4% and NAB, ANZ, and WBC also falling around 1.2%. The Big Bank Basket fell to $281.77 (-0.7%). MQG also took a breather, as did other wealth managers, with HUB down 4.2% despite stronger FUA results.

The industrial space was mixed, with the likes of WES down 1.2%, but ALL up 0.4%, and TLS slipping to finish down 1.8%. Healthcare stocks were also weaker today, with CSL down 1.0% and RMD down 0.9%.

Money shifted into the technology space, with REA up again, XRO rising 2.1%, and WTC up 0.9%. NXT had a good day after revising up its order book, rising 7.7% and dragging up others on the data centre side of things.

In resources, we saw a mixed picture. Lithium stocks continued to struggle as lithium carbonate prices in China fell, with PLS down 1.7% and LTR down 5.1%. BHP managed a 1.3% rise, and gold miners were also firm as gold bounced again off the US$4,000 level, with NST up 3.3% and EVN up 5.6%. Oil and gas stocks were mixed, as were coal stocks, while the uranium sector finished slightly firmer.

In corporate news, TLX climbed 1.4% after second-quarter revenue came in better than expected. Europe’s biggest fintech, Revolut, was also granted a banking licence in Australia.

In economic news, the ANZ-Roy Morgan consumer confidence reading rose slightly.

Asian markets were better, Nikkei 225 up 2.3%, HK down 0.2% and China up 1.7% – Korea up 3%

US futures better – Dow up165 and Nasdaq up 280. Oil above $90. European markets set to fall 0.3%

HIGHLIGHTS

  • Winners: BNZ, AXQ, CAT, NXT, MI6, TCG
  • Losers: HLI, MCY, LTR, EQR, JDO, MSB, HUB
  • Positive Sectors: Gold miners. Tech. Data plays.
  • Negative Sectors: Banks. Retail. Healthcare.
  • ASX 200 Hi 8803 Lo 8733
  • Big Bank Basket: Falls to $281.77 (-0.7%)
  • All-Tech Index: Up 1.6%.
  • Gold: Rises to $5793
  • Bitcoin: Rises to US$65547
  • 10-year yields: Steady at 4.94%
  • AUD: Up at 70.07c
  • Oil down – US Futures up.

MARKET MOVERS

  • BNZ +16.3% rallies again.
  • AXQ +15.7% better day two.
  • TCG +7.0% director appointed.
  • CAT +8.4% broker upgrade.
  • PDI +6.5% name change and consolidation.
  • NXT +7.7% contract utilisation update.
  • MI6 +7.7% bargain hunters.
  • PLT +11.4% 1Q27 update.
  • SVL +8.0% Bowdens DFS confirms economics.
  • HLI -10.1%
  • MSB -4.5% CEO buys more.
  • LTR -5.1% lithium woes.
  • HUB -4.2% disappointed on FUA
  • JGH -12.0% share issue.
  • EQR -5.1% profit taking.
  • Speculative Stock of the Day: ION +27.6% no news.

ECONOMIC AND OTHER NEWS

  • PEXA has warned NSW’s pricing review of electronic lodgement network operator fees could create an “unsustainable financial profile” if regulators proceed with their proposed approach to valuing the company’s assets.
  • According to CBA, Australia’s data centre boom is set to drive about $150bn of investment through 2030, creating one of the country’s largest private-sector infrastructure buildouts as artificial intelligence fuels demand for computing capacity.
  • Iron ore fell to a two-week low, on worsening profit margins at Chinese steel mills.
  • The Bloomberg Global Commodity Lithium Index was last down by 5.6% to 92.28, which is the biggest one-day fall since the start of the Iran war. The index is a financial benchmark that tracks the performance of lithium futures contracts.
  • JPMorgan Chase CEO Jamie Dimon said investors are underestimating geopolitical and fiscal risks that could eventually rattle markets. Dimon said he wouldn’t be a buyer of either equities or long-dated U.S. Treasurys at current prices.
  • General Motors is set to report its second-quarter earnings before the bell Tuesday. Wall Street analysts expect adjusted earnings per share of $3.20 and revenue of $47.01bn.
  • BlackRock is looking to sell more than $US12bn ($17.2bn) of bonds to help finance a Meta Platforms data centre campus in El Paso.
  • China is stepping up efforts to stabilize its stock market, mobilizing state-linked institutions to stem a tech-driven selloff. Support is coming from China’s largest insurers, with at least five pledging to boost investments, and state-backed asset managers signaling support.
  • China weighs tighter export controls on AI models and chips.
  • Nearly 100 US troops injured in two weeks since Iran war resumed.
  • Biotech deals surge to record as fear of missing out grips Big Pharma.
  • US judge pauses Paramount’s $110bn Warner Bros acquisition.

And finally…

Chinese takeout: $25. Getting home and finding out part of your order is missing: riceless.

Some parents run a tight ship. I run a pirate ship. Some swearing, drinking, and a touch of mutiny from the tiny raiders I created

Clarence

XXX