Episode Details

The ASX 200 rose 21 points to 8482 in a topsy-turvy day on news from the Gulf and Trump. After an easier start, markets rallied on news that Trump might not need the Strait open to declare an end to the war (See afternoon update). End of month saw a fade at the close. Gold popped higher with gold miners looking firm, NST up 4.4% and NEM up 2.2% with RIO still firing on aluminium exposure, BHP steady. Lithium stocks slipped a little on some oil price weakness. PLS down 2.9% and MIN off 3.7%. Oil and gas stocks eased back, WDS down 0.5% and STO off 1.1%. Coal stocks too under some pressure, NHC ex dividend today. Uranium steady.

Banks recovered from early losses with the Big Bank Basket falls to $284.58 (-0.1%). Other financials also finding friends, MQG up 1.2% and ASX running hot. Insurers were slightly better and a good bounce in REITs with GMG leading the charge. Healthcare improved, COH up 1.3% and SIG falling 0.4%. Retail also getting a slight boost and tech rallying hard. WTC up 4.1% and XRO rallying 6.6% with the All-Tech Index up 2.6%.

In corporate news, KMD grabbed a lifeline with a deeply discounted rights issue, KOA joined the boards, bedding down nicely, up 11.8%. CKF has rung the Taco Bell and is exiting its stores. A1N slumped another 19.0% as Jackie O commenced legal proceedings claiming $82m.

In economic news, RBA minutes, China’s PMI better than expected.

Asian markets eased, Japan fell 0.5%, HK off 0.6% and China off 0.2%.

10 -year yields fell to 4.98% on RBA minutes and Powell comments.

US futures; Dow up 307 Nasdaq up 104.

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