ASX 200 rebounded 27 points to 6487 (0.4%) in quiet trade. Resources were the stand outs today after the rout yesterday as BHP gained 2.8%, RIO up 3.0% and FMG better by 5.5%. Lower AUD doing its job with exporters to benefit. Gold miners missed out but lithium and coal stocks rebounding strongly, PLS up 6.1% AKE up 3.6%, WHC rallying 6.8% with other coal stocks in demand. TER up 8.5% and BCB doing well, up 7.6%. Energy stocks also doing well, STO up 1.0% and WDS bouncing 1.6%. Elsewhere banks slid as 10-year bonds cruised through 4%. The Big Bank Basket fell to $166.89 (0.2%). CBA down 0.2% and MQG falling 0.9%. Insurers steady as yields rose. Healthcare reversed yesterday’s gains, CSL falling 0.1%, RHC down 3.5% and FPH down 4.8%. REITs down and defensives giving back a little TLS down 1.1% and REA off 2.5%. Tech stocks modestly lower. The All-Tech Index unchanged.
In corporate news, POS down 8.3% on an update and CXO dropped 5.6% on a Finniss lithium project update on production later this year. SM1 fell 4.4% after underwhelming on results and TLG rallied 19.4% on an offtake agreement. Nothing on the economic front. Asian markets slightly better with European markets heading for a stronger open. Asian markets mixed. 10-year yields up to 4.06%.
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ASX 200 rebounded 27 points to 6487 (0.4%) in quiet trade. Resources were the stand outs today after the rout yesterday as BHP gained 2.8%, RIO up 3.0% and FMG better by 5.5%. Lower AUD doing its job with exporters to benefit. Gold miners missed out but lithium and coal stocks rebounding strongly, PLS up 6.1% AKE up 3.6%, WHC rallying 6.8% with other coal stocks in demand. TER up 8.5% and BCB doing well, up 7.6%. Energy stocks also doing well, STO up 1.0% and WDS bouncing 1.6%. Elsewhere banks slid as 10-year bonds cruised through 4%. The Big Bank Basket fell to $166.89 (0.2%). CBA down 0.2% and MQG falling 0.9%. Insurers steady as yields rose. Healthcare reversed yesterday’s gains, CSL falling 0.1%, RHC down 3.5% and FPH down 4.8%. REITs down and defensives giving back a little TLS down 1.1% and REA off 2.5%. Tech stocks modestly lower. The All-Tech Index unchanged.
In corporate news, POS down 8.3% on an update and CXO dropped 5.6% on a Finniss lithium project update on production later this year. SM1 fell 4.4% after underwhelming on results and TLG rallied 19.4% on an offtake agreement. Nothing on the economic front. Asian markets slightly better with European markets heading for a stronger open. Asian markets mixed. 10-year yields up to 4.06%.
Why not sign up for a free trial? Get access to expert insights and research and become a better investor.