Episode Details

The ASX 200 finished a very strong week down 13 points to 8961 as we await further Iranian negotiations. For the week, we were up over 4.4%, the best week since October 2022. Banks were steady despite some issues with mortgages on the AFR front page, the Big Bank Basket $310.35 (+0.3%). Other financials were mixed, ZIP up 2.1% and GQG up 0.9%. NWL rose 2.3% with ASX also better. REITs better, GMG up 0.5% and SGP rising 1.2%. Industrials and healthcare fell, CSL down another 0.7% with RMD off again and WOW falling 0.9%. TCL fell 1.9% on traffic numbers. Tech smashed again, WTC down 2.6% and XRO off 2.7%. The All-Tech Index fell 0.8%. Resources were a little mixed, BHP fell 1.1% on iron ore negotiations perhaps, FMG off 1.3% as it unveiled more green and renewable plans for the Pilbara. Gold miners drifted a little lower, EVN off 2.7% and NEM falling 0.6%. Lithium stocks better, LTR up 2.4% and PLS rising another 1.1%. Oil and gas stocks fell again, WDS off 0.2% and STO falling 0.6%. Coal under pressure and uranium slightly firmer, PDN up 2.0%.

In corporate news, TLX rose 7.3% on some good news from the FDA, MFG flat after shareholders vote for the merger, AMP rose 4.2% as new CEO laid out his plan.

On the economic front, nothing locally, but Chinese PPI rose. Asian markets firmed, Japan Nikkei up 1.9% but TOPIX flat, HK up 0.6% and China up 0.7%. 10-year yields rise to 4.97%.

US Futures near flat. Nasdaq down 10, Dow down 76. Europe is opening modestly better.

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