• The ASX 200 shrugs off negative start to push 63 points higher to 7355 (0.9%) in thin trade. The holy trinity of banks, healthcare and big miners driving the index higher. The Big Bank Basket rallied to $176.68 (0.4%) with MFG finding some support in very volatile trade, closing up 4.4%. MQG bounced slightly but insurers mixed, SUN down 1.4% and QBE off another 0.6%. Big iron ore miners were back in demand as iron ore prices rose again in Asia, BHP up 1.5%, FMG better by 1.7% and RIO rallying 3.2%. EV and lithium stocks eased back on the news that Manchin blocked the Biden Build Back Better Bill. News from PLS didn’t help on a production downgrade given staffing issues in WA, falling 9.1%. Some disappointment across the sector as VUL down 3.8% and IGO off 0.7%, with LTR also down 4.2%. Energy stocks gained on a bounce in energy prices, STO up 0.8% and WPL up 1.1%. 
• Industrials firm but idle, TCL up 0.7% and WOW up 0.4%. Healthcare in demand as tests for Omicron soar, CSL bounces 4.9% with RHC up 3.1% and SHL better by 2.4%. CSL accounted for 20 points of the rise as sellers retreat. Tech stocks were mixed, APT down 1.1% and XRO up 2.6%, the All-Tech Index up 0.7%. 
• In corporate news, ACL seems to a winner from CV testing up 12.2% on an update, FFX released some good results up 7.4% and MMM rose 20.9% after buying a Ready-to Heat company Chefgood. On the economic front, the RBA has released its minutes showing rates will not be going up before wages go up. Market liked that.10-year yields rise to 1.60% helping banks.

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