Market Updates

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ASX 200 rallied hard, but interest waned a little to close up 37 points at 7523 ahead of crucial jobs numbers tonight. Uranium stocks in focus and huge pops in some like PDN up 24.0% and VMY doing well up 23.1%.

Banks were firm with the Big Bank Basket up to $184.43. Iron ore stocks also recovering, BHP up 1.0% and RIO up 2.5%. Base metal stocks and lithium doing well, ORE up 7.0% and MIN up 2.7%. Healthcare better as CSL rose 0.1% and SHL up 1.2%. Industrials rose with consumer stocks firm though tech fell led by APT down 2.8% and the All-Tech Index down 0.4%. 

On the economic front, retail trade for July fell 2.7% month-on-month, to be down 3.1% over the year. FCAI reports Australia August new vehicle sales of 81,199, +33.1% from a year ago.

Happy Father's Day 

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ASX 200 dropped 41 points to 7486 rallying off its lows with half of the fall BHP going Ex- Dividend. This will be a feature of the market as company dividends drop creating a headline headwind. BHP fell 6.9% to be lower than its 2021 open though it has paid around $4 in dividends thus year.

Other resource stocks were in the doghouse, NCM down 1.5%, RIO off 0.7% and BSL easing 1.4%. Healthcare slipped with CSL down 1.8% and RMD off 1.7%. Banks were mixed with the Big Bank Basket steady at $183.80.

Industrials mixed too with tech better as APT rose 0.9% and TLS slipped 1.0%. Consumer staples lower as WES, WOW and COL all fell. Uranium stocks doing well with PDN, BMN and even ERA firming.

On the economic front, a record trade surplus of $12.1bn was recorded in July, beating market estimates of $10bn. Exports +5% vs estimates of 3% with imports +3%, beating estimates of 2%. China’s manufacturing PMIs slips in August. The surprise fall in the Caixin PMI into contraction territory was driven by both weaker production and demand. 

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ASX 200 closes down 8 after a solid recovery and GDP numbers cheered. Up 0.7% above forecasts. Banks better with Big Bank Basket up to $183.43 as leverage to GDP. Healthcare not so rosy led down by CSL off 0.9% and RMD down 1.3%. Industrials were mixed, DMP down 2.7%, WES off 3.3% as it traded ex dividend. EDV down 3.6% and REH slipping 4.4%. Big iron ore miners were easier after commodity falls, BHP down 1.3% and FMG dropping 3.2%. Gold miners lightly better and energy up ahead of OPEC plus. In corporate news, all was relatively quiet after reporting season, KNI rose another 18.8% on a CEO appointment. DDR rose 5.4% after the founder explained his fast car habit. IMU fell 3.6% on three new trials flagged.

On the economic front, the CoreLogic home value index rose by 1.5% in August to be up 18.4% over the year. The change marked the slowest monthly lift since January. PMI data for August eased but still signalled expansion activity in the Manufacturing sector.

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ASX 200 put in an impressive day up 30 to 7535 as month end window dressing helped. Last day of reporting season with a collective sigh of relief all around. Industrials today were the stars as EDV rose 4.4%, WOW up 0.8%, WTC up 5.7% and REA doing well up 1.8%. Healthcare was a big source of points with CSL up 0.5% and RMD bouncing back 3.3%. Banks were a little overlooked as were iron ore plays, although base metals in fashion and uranium doing very well, SLX up 18.5% and BMN up 9.4%. Corporate results eased with HVN easing back 3.2% on it numbers, DUB doing well up 9.0% and DGL impressive results up 9.3%. On the downside MSB fell 15.9% on its results, more a money pit than results, AXE eased 7% after a ASX query too. Weekly consumer confidence was little changed last week, up 0.2% despite higher COVID-19 case numbers in NSW and Victoria. Vaccination momentum was labelled as one reason for the modest improvement.

European markets opening slightly firmer. UK back on line.

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ASX 200 flip flopped to close up 16 points at 7505 (0.2%) after a strong rally eased and turned negative on CV19 woes. Banks in trouble today as the Big Bank Basket dropped to $181.76, with CSL also falling 0.2% despite huge uptake of ‘RastaZeneca’. Resources stocks were the winners as the USD fell and iron ore regained its composure. FMG rewarded Twiggy with a $4bn dividend cheque and rose 6.6%, BHP up 2.5% and elsewhere base metal stocks recovered, S32 up 6.2% and PLS in the lithium space doing well up 6.3%. Gold miners also in demand following the rise in bullion, NCM up 1.6% and EVN rising 0.5%.

Industrials were mildly better with WOW up 1.2%, ALL up 1.2% and BXB rising 1.0%. Tech stocks were mixed, APT rallied 1.5%, ALU crashed 14.2% on its results and it’ inability to find an auditor. Results continued to dominate but we are nearing the end in a generally solid season of earnings although the outlook clouded by CV19 lockdowns.

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ASX 200 fights back from early losses to close down 3 points to 7488 ahead of Powell’s appearance on Zoom. Banks were slightly firmer with the Big Bank Basket up slightly to $183.49. CSL performed well with the rest of healthcare flat, Resources eased as BHP fell 0.6% and MIN slipped 1.4%.

Base metal and lithium stocks were depressed as ORE dropped 5.3% and PLS down 6.6%. Industrials were mixed as Tech slipped on APT falling 1.4% and two of the troubled stocks APX and A2M continued to sour.

Corporate news again dominated, WES slipped 2.8% despite a $2 special dividend and DDR fell 8.1% on a sale of stock from Mr Dicker. Travel stocks were mixed with QAN flying 2.2% on analyst comments, WEB down 2.0% and FLT modestly lower.

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ASX 200 finished down 41 at 7491 as CV19 cases and Jackson Hole event kept buyers cautious. Growth stocks under a little pressure with big miners slipping despite iron ore price rises and commodities picking up elsewhere. Banks held firm with the Big Bank Basket at $182.98. 

Results though the main focus, travel stocks doing well after QAN results and Alan Joyce’s unbounded optimism on international re-openings. QAN rose 3.5%, WEB up 0.7% and FLT reported today rose 4.0%. In other corporate news, APX slumped 21.4% after their numbers and an acquisition, A2M soured 11.8% as it continues with a strategic review, LNK broke on its numbers down 12.6% and IFL slipped 10.4% perhaps treated a little harshly. In the green corner, FCL produced the goodies and rose 15.5% with AEF up 4.0% on its numbers at the top end of the guidance.

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ASX 200 closes up 29 points to 7532 in what is becoming Groundhog Day. A strong start on the back of US markets then, Gladys steps up to the microphone to do her thing, and we are in dire straits. Once again though a narrow range of trade with resources the stand outs. BHP up 1.3% , FMG up 2.6% and RIO leading the charge. Base metal stocks also in demand, MIN up 3.5% and LYC up 5.7%. Defensives weakened as money sloshed to the growth stories. Bank held firm and healthcare slightly weaker. Results were again the feature as WTC went nuts up 28.5% LOV was a jewel in the crown up 17.6% and BVS slumped 16.0% on its results. APT and Z1P were both out together and were not as expected, Z1P fell 2.6% as it made a huge write down on its Quadpay acquisition and APT is really driven by Square now but slightly disappointing. NEC fell 9.7% on its results and BTH returned after a capital raise and an acquisition running 24.4%.

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ASX 200 once again higher with a 13-point gain to 7505 (0.2%). Miners and energy stocks driving the market higher as banks and industrial defensive saw profit taking. The Big Bank Basket unchanged with insurers and other financials holding firm. Big miners rose with BHP up 1.0%, FMG and RIO all in the green. Gold miners too doing well, Energy shares fueled up and off, STO up 3.2% and WPL up 3.2%. Healthcare soggy as RMD came under some pressure, down 3.0% and WES, WOW and COL all fell hard. Travel stocks doing well despite numbers tracking higher.  Results again dominated with MND down 14.4% on staffing and cost issues, KGN smashed 15.8% on inventory issues, ANN fell foul, down 9.2% as CV19 bites and BLD canned its dividend and rocked 5.6% lower. On the positive side NAN had a good second half and rose 22.0%, UWL did well up 8.4% and HUB proved platform power rules, up 7.4%. 

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ASX 200 rallies 29 points to 7490 (0.3%) as a few bargain hunters appear despite NSW hitting high case numbers again. A bit of a mixed session with results and research in focus, NHF fell 11.0% after its CV19 affected results, GEM too in the doghouse on occupancy worries, down 5.7%, ALD bid for ZEL and dropped 4.8% whilst PGL rallied 14.6% on its numbers. Banks were better with the Big Bank Basket at $181.66 with iron ore miners continuing to see sellers, FMG down 4.3% and RIO off 0.5%. Base metal miners fared slightly better, S32 up 2.2% and PLS up 11.4% leading the lithium charge. Industrials were mixed with tech showing gains led by APT up 2.7%.

European Futures opening firmer. Dow futures up 150 points.