ASX 200 rose 64 points to 7195 (0.9%) in a good bounce led by resources. Even a better CPI number couldn’t hold the Mustangs down. Gold miners bounced back after falls yesterday, iron ore miners BHP, FMG and RIO all better by close to 2% and even lithium stocks had a day in the sun. PLS up 2.8% and AKE with a broker upgrade up 5.1%. Base metal stocks in demand. S32 up 1.1% and IGO up 5.2%. Energy stocks better too, WDS up 1.5% and BPT doing OK. REITs did well despite no move on the yields, GPT up 1.2% and GMG up 2.9%. E-commerce is the place to be apparently. Industrials were firm but unexciting. Tech better with WTC up 1.2% but XRO falling 3.3% on UK tax changes. ‘Old skool’ platforms were up, REA up 2.4% and CAR up 2.9%. Banks were becalmed with the Big Bank Basket at $180.90(0.3%). Insurers improved, and Fund managers also doing better, GQG up 2.0%. In corporate news, SQM is moving in the WA lithium race with a possible 20% stake in AZS. On the economic front, busy day, retails sales boosted by Black Friday, CPI above expectations, there goes the pause and job vacancies down a little but still pretty robust. Asian market better, and 10-year yields around 3.71%. Dow futures up 28 points.
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