Episode Details

The ASX 200 put in another solid day, rising 44 points to 9,272 (0.5%), as the banks and gold stocks shone. We did see higher levels earlier in the session, but some of the enthusiasm was sapped by a fall in the Kospi, while BHP and RIO finished slightly mixed. CBA rose 0.9% and NAB gained 0.4%, with financials generally firmer. The Big Bank Basket rose to $299.21 (+0.6%) Insurers slipped, however, with QBE down 1.0%, while the REITs also eased, with GMG down 1.7% and SCG off 1.3%. Healthcare continued its recent strength, with CSL up 1.3% and RMD rising 0.3%.

Technology had a mixed session, with WTC falling 1.5% and XRO gaining 0.4% as the sector paused for breath after recent gains. Industrials were generally firmer, while retailers had a good day, led by JBH, up 2.9%, and HVN, which rose 1.2%.

In the resource sector, the gold price pushed higher again, dragging the miners with it. EVN rose 3.8% and NST added 3.2%. There was little to report in lithium, with the sector drifting slightly higher. Uranium stocks eased modestly, while coal stocks were stronger, with WHC up 2.5%. Oil and gas stocks were little changed as investors continued to wait for further developments in the Iranian talks.

In corporate news, REA rose 3.4% after posting an 11% increase in revenue. AMP also had a strong session after announcing a 57% jump in half-year profit and unveiling a $150m share buyback. Meanwhile, BPT fell after reporting a 21% decline in underlying FY profit, while AQZ surged 30% before entering a trading halt as it renegotiates contracts with QAN. Nothing on the economic front today.

Asian markets were weaker, with the Nikkei 225 down 0.99%, Hong Kong down 1.7%, China down 0.8%, and Korea off 4.6%. US futures were flat with the Dow up 118 points and the Nasdaq down 83. 

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