Episode Details

The ASX 200 rallied hard off lows to close down 5 pts at 8724 (0.1%). CBA turned around, recovering well, the Big Bank Basket closed at $269.61 (- 0.8%). Insurers slipped, led by QBE off 1.3% and IAG down 2.2%. REITs too were under pressure, GMG off 0.4% and CHC falling 1.0%. Healthcare remains in the kennel, CSL falling another 1.7% with RMD off 2.1% and COH down 4.3%. Industrials slipped a little, BXB down 1.6% and ALQ falling 1.1%. Retail stocks were also on the nose following the minimum pay award update. JBH crumbled 5.4%, NCK down 3.1%. DMP dropped 5.9% on the wage news. Tech stocks were the stars of the show again today, WTC up 7.9% and XRO jumping 7.5%, with the All-Tech Index up 3.9%. REA had a good day, as did CAR.

BHP and RIO once again pushed higher on copper exposure, the Big Australian hitting new records, up 1.4%. Gold miners recovered, with NST shooting the lights out as activist shareholder Elliott took a big position and called for change. Uranium stocks eased back again, PDN down 5.9% and DYL falling 5.3%.

In corporate news, SRG jumped 16.6% on $1.85bn in new contracts. TEA soared 16.2% on an acquisition, DRO up 3.6% on a new $24.1m contract, and 4DX had a bad day on CT news. NST jumped on calls for change. On the economic front, consumer sentiment rose and the BoP fell as exports eased back. 

Asian markets mixed. Japan down 0.5%, Hong Kong up 1.8%, and China up 1.3%. 

US futures: Dow down 172 and Nasdaq down 83. Oil up 1.2%.

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