Episode Details

The ASX 200 recovered some 60 pts to close at 8674 after yesterday's drubbing, ahead of a long weekend in some states in Australia. The ASX rose 10 pts this week. Banking sector recovered slightly after yesterday's drubbing, with CBA up 1.2%, NAB being the best of the bunch, up 1.6%. The Big Bank Basket rose to $261.64 (+1.1%). Insurers also seeing a little bit of buying, especially in QBE, which was up 4.2%. Other financials also slightly firmer, with MPL up 0.4% and ASX up 0.9%. The REIT sector still under pressure, with GMG down 2.6%, SCG down 1.6%, although CHC managed to put on 0.3%. We saw TCL recover, and retail stocks pushed slightly ahead: WES up 0.8%, WOW up 0.8%, and JBH flat.

In the tech space, we saw buying following a positive move in software stocks in the U.S., with WTC up 6.4% and TNE up 4.5%. MP1 was another big winner today, along with DTL after its big run yesterday. The All -Tech Index rose 2.4%

In the resource space, BHP and RIO both rose today, and we did see some buying emerge, although tentatively, in PLS and MIN. LYC recovered 1.7% after the bid yesterday for MEI, and the gold miners also put on a slight rise, with NST up 1.6% and RRL up 1.7%. Coal stocks recovered, with WHC up 3.8%, and the oil and gas space was better too, with WDS rising 1.2%, together with STO up over 2%.

In corporate news today, PPS jumped 9.1% after its CEO stepped down. SRL is planning to move to the US, and TWE is also doing better on a broker upgrade. LLC fell slightly on news of its Italian sale update, whilst AYA jumped on a 5-year contract in the US.

We await U.S. non-farm payrolls tonight.

Asian markets pushed higher with Japan down 1%, China closed for Golden Week.

10-year yields back to 5.34% .US Futures lower. Nasdaq up 96 and Dow up 160.

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