Episode Details

The ASX 200 rose 44 points today to 9103 (0.5%), as once again we saw resources push ahead. The big Australian BHP hit a new record high today, up 3.0%, as the market continues to warm to the copper story and passive flows stoke the fires. Elsewhere, we saw good results from PLS ignite the lithium space, up 7.9%, with LTR up 4.3% and MIN up 4.2%. Even S32 had a good day, rising 3.7%, and the gold miners were firm yet again, with NST up 1.8% and NEM up 2.4%. Not all resources rose, as we did see the oil and gas space give up some recent gains, with WDS down 0.9% and STO down 1.8 %. However, uranium stocks had a good session, with PDN up 10.6%.

Industrials had a mixed day, with utilities easing. Tech stocks rose, with WTC up 2.7% and XRO up 2.0%, but retail was mixed, as JBH fell 1.1% and KGN stumbled following its recent results announcement. Once again, the banks were under pressure, with CBA down 0.7% and NAB down 0.4%, with other financials mixed. The Big Bank Basket fell to $265.49 (-0.6%). MQG eased 0.2%, while insurers fell, with QBE going ex-dividend. Healthcare stocks were marginally better, with CSL up 0.5% and PME up 1.0%.

Plenty of corporate news around today, with RPL falling  2.8% after its founder announced plans to retire. EVT climbed 8.9% after it said it was exploring a sale of non core assets. ABY was certainly in the eye of the beholder after a turnaround, while VGN was unchanged, despite news of a private equity sell-down. There were some casualties today, with results from EDV falling 4.7%, while NHF dropped 9.1% after a fall in full year net profit.

Nothing of note on the local economic front today. Asian markets were mixed, with Japan up 0.2%, Kospi down 3.1%, Hong Kong down 2%, China down 0.9%, and US futures were weaker, with the Dow down 42 points and the Nasdaq down 229. Yields back in focus.

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