ASX 200 kicked off the week on a positive note, gaining 22 points to 8122 (+0.3%), just 27.1 points away from its previous all-time high. Banks did most of the heavy lifting today as resources sagged on lagging commodity prices. WBC was in demand up 2.2% hitting a 52-week high, and the Big Bank Basket rose 1.1% to $245.76. Gold miners firmed, supported by fresh record-high bullion prices during the day. EVN the top beneficiary up 4.2%, while NST and SBM follow just behind. Losses in resource stocks weighed on the index, BHP, RIO and FMG all finished in the red. Energy stocks no better, WDS fell 0.6% despite resuming production at its Shenzi oil and gas field following Hurricane Francine's disruption. Lithium and Uranium stocks on the nose. MIN pared earlier gains, finishing down % after announcing maiden estimates for two Perth Basin discoveries. BOE, PDN and DYL all lost over 1% each. Tech and REITS finished higher, while defensive sector healthcare slumped, CSL eased 1.2% dragging the entire with them. In corporate news, Austal (+20.5%) secured a US$450m shipyard expansion deal. Lendlease (+2.1%) sold its US unit, with expected FY25-26 losses and FY27 recovery. Downer (-0.5%) landed an NZ$800m contract for Auckland Airport’s new terminal. Nothing on the economic front today. In Asia, the Hang Seng flat, TOPIX closed, and Shanghai Composite closed. Bond yields down, 10Y yield at 3.81%, 2Y yield down 0.8bps to 3.48%. AUD +0.3% to 67.24US cents. Dow Jones Futures down 6 points and Nasdaq Futures down 31 points.

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