Market Updates

• The ASX 200 closed up 47 points at 7097 (0.7%), well off its highs as some caution crept in. No bad news from Ukraine was good news for the market with one eye on the RBA, which once again stressed ‘patience’ is required. Banks were solid as the Big Bank Basket rose $173.33 (1.3%) with CBA the standout, MQG rose 1.3% and insurers had a day to rally despite QLD and NSW floods. SUN up 1.2% and SDF up 0.7%. Industrials firmed with travel stocks in focus, QAN up 1.8%, FLT up 3.3% and WEB rising 4.0%. 
• Tech was the big gainer today as the sector bounced hard and fast. SQ2 was a big winner up 12.8% as Block rallied in the US. The All-Tech Index rallied another 4.5% with XRO up 7.03% and WTC better by 4.7%. Even ‘old skool’ tech rallied, REA up 3.5% and SEK finding friends up 6.2%. Healthcare dominated by a rise in CSL up 0.4% and COH up 1.7%. Miners were mixed, base metal stocks were in demand, IGO rallied 6.7% on Glencore deal being off so no cap raise, lithium better, PLS up 3.3% AKE up 7.0% and SYA up strongly 11.1% on a resource upgrade. Iron ore miners flat and golds down led by NCM down 1.3% and NST off 2.8%. Energy stocks better, WPL up 0.5% and KAR rising 3.9%. 
• Uranium stocks also doing well as Europe looks to new energy sources rather than oil and gas from Putin.
•  In company news, Z1P returned post its capital raise down 6.3% still trading at a premium to target SZL up 9.8%. KLL fell 21.0 % on an operational update as more funding may be required, CBA sold its Chinese banking investment, ANZ saw some management changes and ALQ rose 4.7% on new guidance. Asian market slightly firmer and 10 year yields 2.18%.  

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US markets were mixed but managed to perform better than the futures expected at the close yesterday afternoon. The Dow Jones fell 0.49% while the Nasdaq gained 0.41%. Russia has begun to hit back on the increasing sanctions implemented by western countries, as the Russian central bank hikes interest rates. SPI Futures are up 21 points with oil and iron ore both firming overnight. Catch up on the latest news with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures up 21.
• Dow rallies hard off lows to close down only 166 points (0.5%)
• Nasdaq up 57 points (0.4%) Tesla pops 7%.
• US 10- year yields back to 1.82%
• Commodities higher. Oil up 3.1%
• Gold up 0.7% Iron ore up 4.2%. 

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 The ASX 200 traded up 51 points today to 7049 (0.7%) in volatile trade ahead of events unfolding in Ukraine. Late 20-point surge helped. US futures having a serious wobble took the wind out of the sails from Saturday as weekend events unfolded. Bank stocks under pressure with the Big Bank Basket down to $171.22 (0.3%), Insurers fell as QLD floods get worse, QBE down 2.5% and IAG off 4.0%. Healthcare mixed with CSL down 0.5%, RMD up 1.8%. Industrials better, DXS up 2.6%, TLS up 0.5%, BXB up 0.9% and EDV rising 1.7%. Oil stocks bounced on oil moving higher with STO up 1.5% and WPL rallying 2.1%. Iron ore miners and gold were firm, BHP up 4.4% and RIO up 3.2%. FMG ex dividend today. Gold miners firmed as bullion pushed above US$1900. NCM up 3.4% and NST up 3.1%. Tech hanging in, WTC up 0.2% and SQ2 rising 1.0%. The All-Tech Index fell 0.6%.
In corporate news, Last day of results with Z1P tapping shareholders for another $200m and announcing it is buying SZL for shares. CVN up 17.8% on drilling news. Economic news today with retail trade up 1.8% slightly below estimates. 
Asian markets weaker and volatile. Oil above US$100.    

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Russia and Ukraine are set to hold talks without preconditions as Putin puts nuclear “deterrence” forces on alert. The Dow posted its largest daily gain on Friday night up 835 points, as all US sectors finished higher on optimism that the Russia-Ukraine situation may end sooner rather than later. With results season wrapping up, SPI Futures are up 166 points this morning (+2.4%). Catch up on the latest news with Henry’s Breakfast Briefing.

• ASX 200 SPI Futures up 166 points 2.4%
• Dow rallies 835 points 2.5% Nasdaq up 221 1.6%.
• Oil down slightly. Gold off 2%
• Base metals slip. Iron ore down 2.6%.
• Last day for results.

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•  The ASX 200 rallied 7 points to 6998. Quiet, too quiet. After the big falls yesterday, investors and traders were reluctant to chase the market higher ahead of a weekend. A good bounce from technology stocks predicated on a Nasdaq bounce but also a big after-hours jump in Block (SQ2) rising 32.5%. SQ2 is 5.9% of the All-Tech Index. CPU is the biggest holding at nearly 13%. CPU rose 1.5%. Results and Russia remain the focus. Industrials were mixed as REITs rose slightly, GMG up 2.4% and CHC up 3.7%. WES rose 0.3% and ALL up 1.9% with TLS off 0.3% and BXB slipping 0.8% on pallet hoarding and rising costs of timber. Banks eased as bond yields steady at 2.23%, the Big Bank Basket fell to $ 171.72 (-1.5%). MFG revealed another blow to FUM and fell 10.1%, MQG bounced slightly up 1.5% and insurers flat. Miners were easier, BHP down 0.2% and RIO down 0.7%. FMG bucked the downdraft rising 0.3%. Gold miners and energy stocks fell away as the spike in underlying assets pulled back. Lithium stocks better, AKE up 5.2% and PLS up 4.6% with LYC reporting record numbers rising 6.9%. Healthcare eased with CSL down 1.3%. 
• In company news, ALG rallied 17.2% on its results, CCX saw a 12.9% bounce after a shocker yesterday on numbers, BWX fell 26.4% as it swung to a loss and KGN suffered a similar sell-off on its numbers, down 6.2%. PNV reported and dropped 3.3% with TNT up 15.4% on an investor update. 
• Nothing on the economic front. Asian markets were slightly better. Dow futures eased sapping some early strength. 

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• ASX 200 SPI up 85
• Biden speech helps calm nerves. Sanction but no intervention.
• Dow stages huge rebound closimng ip 92 after being down 900 points.
• Nasdaq rallies 3.3% after a 3.3% loss early.
• Base metals firm. Oil hits $100 then backs off. Gold up 0.8% then falls back.
• Cybersecurity and tech surge.

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•  The ASX 200 fell 215 points to 6991 (3.0%). It was all about results and Russia. Mainly Russia today as the drums of war beat loud and Putin sent troops into Ukraine. The index opened badly with BHP ex-dividend accounting for ~40 points alone and as the day wore on it became a rerun of the Red Wedding from Game of Thrones. Broad-based losses with technology and high PE stocks hit for six. This is not a GFC event based on a collapse in financial confidence but a sentiment event. But it is still painful.  For a market already rattled by the Fed and inflation, this has just kicked it down to risk-off at any cost. Banks fell hard with the Big Bank Basket hitting $173.90 down 2.3%. NAB off 2.5%, CBA down 2.1% and MQG falling 4.9%. Insurers too were whacked QBE down 3.6% and SUN down 2.1%. MFG fell 3.3% and NWL down 4.14%. Healthcare suffered too with CSL down 1.5% and RHC holding up on results. 
• Industrials kicked lower, TLS down 1.7%, WES down 2.2% and TCL off 1.2%. Miners were weaker except in gold, BHP fell 6.9% ex-dividend and RIO dropped 3.8% on results last night. FMG down 4.2% and lithium shares depressed, PLS down 8.1% and MIN off 6.4%. Oil stocks were also weaker perversely, STO off 0.4% and WPL down 2.7% (ex-dividend). Gold was a bright spot but only just, NCM up 4.0% and NST up 5.9%. Tech stocks were decimated. SQ2 down 12.9%, XRO off 5.5%, WTC down 7.5% and CPU down 4.0%. Second liners were bashed lower, CCX lost 30.9% on results, 360 became 240 down 28.8% and APX crashed 28.7% on its results. The All-Tech Index was down 5.3%. 
• In corporate news, QAN fell 5.1% on its numbers and delays to reopening WA took their toll. CIM saw its majority holder finally put other shareholders out of their misery with a bid at $22. LOV rallied 11.8% on its numbers, impressive given the backdrop and FLT landed badly down 10.1% on its numbers. Nothing on the economic front. Nothing to worry about anyway. Asian Markets fall but outperform local markets. 10-year yields dropped to 2.17%. 

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•  The ASX 200 rallied to a 44-point rise to 7206 (0.6%) as some confidence returned. Closing on highs. Iron ore prices in Asia pushed higher helping BHP up 0.6% and RIO up 1.2 %. BHP is ex dividend tomorrow and its 210c fall will equate to 30 odd points in the index. Base metals and lithium stocks found friends, S32 up 3.4% and PLS up 2.2% after its results. AKE rallied 6.8% with MIN a winner on two fronts up 2.5%. 
• Energy stocks were mixed despite crude rises, KAR up 3.2% on results, WPL slid 1.3% ahead of its dividend tomorrow and STO up 0.6%. Gold miners paused and slipped slightly. NCM down 2.1% and EVN off 3.5%. In the banks and financials, a mixed session with the Big Bank Basket at $178.14 (0.2%). MQG slipped again but insurers were firmer led by QBE up 1.7% and SUN up 2.0%. MFG ex dividend. Healthcare better with COH gaining positive broker chatter up 5.1%, CSL up 0.7% and RMD up 2.8%. Industrials firm with results dominating, WOW up 1.4% on better results, TLS up 2.3% finding some friends, Travel stocks better too, QAN up 3.9% and FLT up 3.2%.  Tech better led by results from WTC up 4.2% and a bounce in oversold BNPL stocks ahead of Z1P numbers tomorrow, 8.4%. The All-Tech Index rose 2.2%. 
• In corporate news, results dropping thick and fast. PXA did well up 13.9% on numbers, CXL rallying off lows up 11.0% as it presented to shareholders. DMP fell 14.0% on a fall in same store sales but looks overdone. SCG fell 4.4% disappointing numbers and executive changes. On the economic front, Wage price index (WPI) was up 2.3%. NZ raised rates to 1%. 10-year yields popped up to 2.25%. Asian markets better. Japan closed for a holiday. China up 0.6%, HK up 0.7%

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The Dow fell 483 points (-1.4%) overnight, finishing off lows but never touching positive territory. Biden has announced sanctions for Russia in response to the invasion of Ukraine. Australian markets look set for a mild day of trade with SPI Futures down six points this morning as the results keep coming. Catch up on the latest news with Henry’s Breakfast Briefing.  

• ASX 200 SPI Futures down 6.
• Dow rallies off lows on Biden and sanctions but still down 1.4%.
• Nasdaq down 1.2%
• Base metals slightly better. Oil rises 1.5% on invasion.
• Gold unchanged.
• Results in focus again.

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•  The ASX 200 drops 72 points to 7161 (1.0%) as Russian moves on Ukraine once again spook the market. Off lows at close. Broad base losses with only gold and oil escaping from the carnage. Results once again in focus with some good numbers from some and impressive moves higher against the trend. Banks fell hard with the Big Bank Basket down to $177.76 (1.7%). MQG slid another 1.8% with NWL off another 2.6%. 
• Healthcare proved resilient, CSL up 1.3% and COH rallied 9.0% on its results. SHL continued to slip by another 2.1%. Industrials soggy, WES down 3.7%, TLS down 1.0% and travel stocks flopping post the reopening of tourism. QAN down 3.0%, WEB off 6.1% and FLT down 5.4%. Tech stocks were mauled, XRO down 3.1%, WTC off 4.0% and SQ2 collapsing another 4.3%. Z1P sold off heavily down 9.7% as were SZL as a capital raising looms. In the miners, Iron ore stocks fell BHP off 0.9% and FMG down 1.5%, base metals fell, and lithium depressed again, PLS down 4.8% and MIN off 3.8%. Gold was a safe haven as NCM rose 2.3% and NST up 4.6%. Oils also in demand as crude prices picked up on Ukraine issues. WPL up 3.8% and STO up 3.2%. 
• In corporate news, COL followed the EDV results with gains today on better than expected numbers. COH rallied 9.0%, CGC did well as international business was firm rising 8.7%. HUB bucked the recent trend in platform stocks rising 4.8% on its numbers and SLC, NAN and UWL all fell hard on the numbers. On the economic front, ANZ consumer confidence slipped 1.4% as higher petrol prices took their toll. Asian markets were soggy on macro issues and a further Chinese clamp down on Tech. 10-year yields steady at 2.20% 

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