ASX 200 rose 24 points to 7253 as iron ore drives the market from negative to positive. Quiet conditions with Chinese stability helping sentiment. Iron ore hit US$100 in Singapore pushing BHP up 2.1%, FMG up 2.2% and RIO up 3.5%. Base metals rose slightly, S32 up 3.0% and MIN doing well up 2.4%. Lithium stocks found some buyers but conviction remains low. Gold miners under a little pressure as USD rises, NCM down 0.1% and NST off 0.5%. Energy stocks mixed with WDS off 0.4% and STO up 1.1% on its BKW deal. Old king coal a very mixed soul, WHC down 1.8% and YAL up 0.4%. Banks were flat with CBA down 0.4% dragging the Big Bank Basket to $188.52. Other financials drifted off, MQG down 0.3% and ASX off 4.7%. Industrials slightly weaker in thin trade. WES fell 0.3%, ALL down 0.8% and REITS slipped slightly, GMG down 1.2%. Healthcare was firm led by CSL. RHC up 0.9% on its AGM and FPH doing well on its results up 9.8%. Tech stocks going nowhere, XRO up 1.0% and the index unchanged. In corporate news, CKF dropped like a hot bucket of chicken down 19.8% on inflation biting margins. Some presentations around in CIA and AGY and in economic news, consumer confidence is picking up a little after the budget. Asian market calmly better after the weekend of protests in China. HK up 3.9% 10 year yields steady at 3.61%.
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ASX 200 rose 24 points to 7253 as iron ore drives the market from negative to positive. Quiet conditions with Chinese stability helping sentiment. Iron ore hit US$100 in Singapore pushing BHP up 2.1%, FMG up 2.2% and RIO up 3.5%. Base metals rose slightly, S32 up 3.0% and MIN doing well up 2.4%. Lithium stocks found some buyers but conviction remains low. Gold miners under a little pressure as USD rises, NCM down 0.1% and NST off 0.5%. Energy stocks mixed with WDS off 0.4% and STO up 1.1% on its BKW deal. Old king coal a very mixed soul, WHC down 1.8% and YAL up 0.4%. Banks were flat with CBA down 0.4% dragging the Big Bank Basket to $188.52. Other financials drifted off, MQG down 0.3% and ASX off 4.7%. Industrials slightly weaker in thin trade. WES fell 0.3%, ALL down 0.8% and REITS slipped slightly, GMG down 1.2%. Healthcare was firm led by CSL. RHC up 0.9% on its AGM and FPH doing well on its results up 9.8%. Tech stocks going nowhere, XRO up 1.0% and the index unchanged. In corporate news, CKF dropped like a hot bucket of chicken down 19.8% on inflation biting margins. Some presentations around in CIA and AGY and in economic news, consumer confidence is picking up a little after the budget. Asian market calmly better after the weekend of protests in China. HK up 3.9% 10 year yields steady at 3.61%.
HEADLINES
Why not sign up for a free trial? Get access to expert insights and research and become a better investor.