ASX 200 rose another 24 points to 7851 (+0.3%) as iron stocks fell hard on Asian price falls. BHP, RIO and FMG dragging the index back from 7910 high. BHP down 2.8% and FMG crashing 4.6%. Iron ore futures in Singapore sank a further 2.3% to $US96.25 a tonne. Other resource sectors pulled lower. Lithium tried hard to rally, but PLS was unchanged and MIN off 4.6%. Gold miners mixed, RED off 1.4% and BGL down 2.5% with EVN presenting a good set of numbers and rose 6.6%. Oil and uranium not doing too much. Results dominated in industrials; CBA produced a beat and a higher dividend, up 1.3%, with the Big Bank Basket up to $227.58 (+0.7%). MQG rose 0.8%, with insurers slightly firmer, and ASX fell 3.7% as ASIC launched legal proceedings. CSL bounced 2.0%, and healthcare generally was better, with SHL up 2.0% and RHC up 1.0%. PME results delighted the bulls, up 7.2%. Elsewhere, retailers were still in favour, SUL up 2.4% and APE rose 2.1%. Gaming stocks better too, ALL up 1.4% and LNW rising 2.0%. Tech rose, the All-Tech Index up 1.7% with WTC up 2.6% and XRO up 0.5%. REITs also better, GMG up 3.1% with REA up 3.5% too. In corporate results, SVW showed the benefit of owning BLD up 6.8%, ORA rose 5.3% on better results and more M&A interest, and BVS also dId well, up 11.1% on results. Nothing locally on the economic front. RBNZ cut rates as the economy stalls, and the Japanese PM announced he would be stepping down. Asian markets lower, HK and China down 0.5%. 10Y yields fell to 3.93%.Dow and NASDAQ Futures up 0.1%.
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ASX 200 rose another 24 points to 7851 (+0.3%) as iron stocks fell hard on Asian price falls. BHP, RIO and FMG dragging the index back from 7910 high. BHP down 2.8% and FMG crashing 4.6%. Iron ore futures in Singapore sank a further 2.3% to $US96.25 a tonne. Other resource sectors pulled lower. Lithium tried hard to rally, but PLS was unchanged and MIN off 4.6%. Gold miners mixed, RED off 1.4% and BGL down 2.5% with EVN presenting a good set of numbers and rose 6.6%. Oil and uranium not doing too much. Results dominated in industrials; CBA produced a beat and a higher dividend, up 1.3%, with the Big Bank Basket up to $227.58 (+0.7%). MQG rose 0.8%, with insurers slightly firmer, and ASX fell 3.7% as ASIC launched legal proceedings. CSL bounced 2.0%, and healthcare generally was better, with SHL up 2.0% and RHC up 1.0%. PME results delighted the bulls, up 7.2%. Elsewhere, retailers were still in favour, SUL up 2.4% and APE rose 2.1%. Gaming stocks better too, ALL up 1.4% and LNW rising 2.0%. Tech rose, the All-Tech Index up 1.7% with WTC up 2.6% and XRO up 0.5%. REITs also better, GMG up 3.1% with REA up 3.5% too. In corporate results, SVW showed the benefit of owning BLD up 6.8%, ORA rose 5.3% on better results and more M&A interest, and BVS also dId well, up 11.1% on results. Nothing locally on the economic front. RBNZ cut rates as the economy stalls, and the Japanese PM announced he would be stepping down. Asian markets lower, HK and China down 0.5%. 10Y yields fell to 3.93%.Dow and NASDAQ Futures up 0.1%.
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