Episode Details

The ASX 200 consolidated Friday’s gains with a loss of 2 point to 8729. Tech stocks were the star attraction, with REA up 1.5%, WTC up 8.7% and XRO rising 7.6%. The All-Tech Index rose 3.8%. Healthcare remains on the nose, with CSL dropping another 2.5% and RMD pummeled down 7.6%. REITs also slid, with CHC off % and SCG falling %. Banks were mixed, with CBA down 1.0% and WBC up 0.4%, leaving the Big Bank Basket down to $271.87 (-0.6%). Financials were mostly better, with ZIP rallying 5.2% as tech took off. Industrials were a mixed bag. TCL fell 1.8% and LNW dropped 1.0%, while BXB rallied 1.4% and CPU rose 0.9%.

In resources, BHP was slightly firmer, RIO rose 1.6% and FMG improved. Gold miners were generally better, with EVN up 2.4% and CMM rallying 1.3%. Lithium stocks were on a charge, with PLS up 4.3% after huge rebalancing volumes last week, LTR up 3.3% and MIN up 1.2%. WDS and STO both made modest gains, as did uranium and coal stocks.

In corporate news, LLC lost 5.5% after agreeing to sell the development rights in the Milano Santa Giulia mixed-use project in Milan. SYR soared 16.2% after its offtake dispute with Tesla was resolved, with the electric vehicle maker accepting that the alleged default conditions had been cured. MYX fell 2.9% as it expanded its US commercial footprint. CTT rose 25.5% as it moved to expand its presence in China through the launch of a flagship store on Tmall Global.

On the economic front, ANZ-Indeed Australian job ads lifted 1.8%. Asian markets eased. Japan up 0.9%, HK up 0.8% and China down 0.6%. Korea up 4.1%.

US futures up slightly, Dow up 49 and Nasdaq up 175. European markets set to open flat. Oil up 2.5%.

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