The ASX 200 rose 36 points to 8269 (0.4%). 11-week high. Disappointing in some respects as defensive stocks saw sellers move to more leverage assets. Banks slipped with ANZ Ex-dividend, the Big Bank Basket down to $261.90 (-0.5%). MQG pushed another 3.7% ahead, with other financials doing well. HMC is up 3.7%, and RPL is rallying 5.7%. ZIP was the standout, up 8.8%, with XYZ bouncing 5.9%. REITs sold off as rates moved higher, 10-year yields up to 4.43%. Defensive industrials fell, COL and WOW went down hard, TCL fell 2.2%, and TLS dropped 2.6%. Tech did well but off highs. WTC is up 4.9% and XRO modestly higher, up 1.7%, with the All-Tech Index up 3.1%. In resources, iron ore drifted back a little, BHP up 2.1% and FMG up 2.7% with base metal stocks also in demand, MIN up 9.8% and LTR up another 3.5%. S32 had a great day up 5.6%. Gold miners were sold off on bullion weakness. NST was down 4.6%, with NEM down only 1.8% as EVN fell 5.3%. LYC dropped 3.8%on rare earth supply from China resuming. Oil and gas stocks are better, WDS up 3.7%, and STO rallying another 2.9%. Uranium stocks paused. Coal was a happy place, WHC up 3.2%. In corporate news, RIC successfully raised $125m to buy DNL’s fertilizer distribution business. PNV is doing well on diabetes trials, and ALD rose 2.2% as it sold an NZ business. ASK rejected a takeover offer from Ki. On the economic front, consumer sentiment lifted on election results. Asian markets mixed, Japan up 1.7% with China flat and HK sliding back 1.5%.

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