Episode Details

The ASX 200 rallied another 49 points to 8966 as optimism continues on Fed and war outcomes. After a slow start, and despite iron ore falling, BHP managed a 0.6% rise as passive funds continue to flow into the Big Australian. RIO and FMG drifted lower. Gold miners continued their recovery despite bullion slipping a little, NST up 2.6% and EVN up 2.9%, with RRL doing very well. Lithium stocks also continued recovering, with LTR up 3.9% and PLS rallying 2.8%, while rare earth stocks were mildly positive. Oil and gas stocks fell as oil continued to be barrelled over, with WDS down 3.6% and STO off 1.2%. KAR dropped 13.4% on a production downgrade and oil price woes.

Banks firmed, with CBA the standout, up 1.1%, and the Big Bank Basket rising to $271.99 (+0.6%). Other financials also did well, with insurers up on premium hike talks. MQG rose 1.2%, hitting an all-time high. REITs were also positive, led by GMG rallying 1.4% and SGP up 0.9%. Industrials were mixed, although improving risk sentiment helped. SGH rose 1.2% and ALL gained 3.1%, while healthcare was also better. CSL edged higher and RMD rose 0.6%. Tech stocks bounced hard, with WTC up 4.1% and XRO rallying 3.5%, taking the All-Tech Index up 1.8%.

In corporate news, A1N rose 31.0% on a settlement with Kyle Sandilands. FLT took off , up 5.3% on a lifting of travel advisories despite earnings issues. SGM surged 1.8% following an earnings update. SYL rose 8.2% after agreeing to acquire 100% of Queensland-based Shamrock Civil in a $51 million upfront deal. On the economic front, there was nothing locally.

Asian markets – China up 0.2% HK down 0.5% Japan up 0.7% Korea up 1%

US Futures - Dow Jones up 21 Nasdaq up 201.

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