ASX 200 up another 58 points to 6764 (+0.9%) as the grind higher continues. Late kick helps as US futures rally hard. Resources took up the baton today with iron ore producers pushing ahead. BHP up 4.3%, RIO up 3.0% and FMG doing well up 3.8%. Gold miners rallied after the sharp knee-jerk sell-off yesterday, NCM up 2.9% and NST up 6.1% on a KCGM PFS update. Lithium was mixed as PLS rose 3.0% but AKE off 0.5%. Base metals rallied S32 up 3.7% as coal prices continue to push higher, CRN up 2.9% and WHC in the coal space running hard up 2.7%. Oil and gas stocks better as crude rallies, WDS up 4.3% and STO better by 2.7%. Elsewhere things were mixed, Banks eased after a stunning run yesterday with the Basket down 0.4% to $163.50. MQG rose 0.6% on a $400m Capital Note raising, Insurers eased too. Healthcare stocks going nowhere fast, CSL the exception up 0.4%, the rest in a slow lane. COH down 0.3% and HLS down 2.1%. REITs better GMG the star up 0.7%, Industrials flat, WES down 2.3% and ALL off 0.9%. QAN down 2.2% again, JBH off 3.90%. Tech eased back with XRO down 0.7%, WTC off 0.8% and the index down 1.1%.
In corporate news, CKF had a good result with KFC big in Germany, rising 11.5%. BWX crashed 40.6% on an update and capital raise and EOS in a trading halt as it taps the market for fresh funds. On the economic front, consumer confidence rose 3.7% last week. TGR up 16.1% after a bid from a Canadian group. Asian markets a little softer with HK techs under pressure. 10-year yields steady.
Why not sign up for a free trial? Get access to expert insights and independent research and become a better investor.