Episode Details

The ASX 200 kicked off the week up 35 points to 8692 (0.4%) as optimism on a peace deal washed through. Some scepticism remains, so it was a cautious start to the week. US markets are closed tonight. Banks held firm as NAB rose 1.1% and CBA dropped 0.7%. The Big Bank Basket was steady around $275.42. Insurers slid as yields fell, QBE off 2.1% and MQG lost 1.1%. Other financials were mixed, ASX down 1.2% with HUB up 2.4%. REITs were mixed too, GMG down 0.8% but CHC doing well on an upgrade, up 6.7%. Industrials were mixed, with defensives out of favour. TLS fell 0.9% and REA off 0.3%. WOW and COL steady. Retail rose as bond yields slid, WES up 1.5% and JBH up 1.3%. Tech found its feet, WTC up 0.8% and XRO rising 1.0%, with the All-Tech Index down 0.5%.

In resources, RIO and FMG were all up around 1.6% or better. BHP rose 0.6%. Gold miners bounced hard, NST up 5.7% and EVN up 4.2%, with copper stocks also trading higher, SFR up 2.2%. Lithium and rare earths were mildly positive, LYC up 0.7% and MIN rising 2.7%. Oil and gas stocks eased back, WDS down 4.2%, and coal stocks had a great day after issues at one mine in China.

In corporate news, QAN announced the London-Sydney non-stop route would be delayed by a year. It rallied 5.8% on oil falls. CHC rallied on another earnings upgrade. BPT fell 1.3% after selling a 60% stake in its Otway Basin project.

In economic news, nothing today.

Asian markets were better, with Japan up 3.1%, Hong Kong up 0.9%, China up 0.8%, and the Kospi up modestly. US futures were better, with the Dow up 404 and the Nasdaq up 420.  Oil down 5.5% The US and UK are closed today.

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