End of Day Report – Thursday 17 April: ASX 200 up 60, +2.3% for the week | Gold shines

A good end to the week as the ASX 200 rose 60 points to 7808 (0.8%), breaking through as SPI expiry boosted volumes. Positive US futures helping the Easter Bunny remain positive., For the week the ASX 200 is up 2.3%. Today was all about gold and resources, BHP up 1.1% and RIO up 2.9% doing well on broker reactions to production reports. Gold miners better, but looking a little tired short term, EVN up 1.7% and NST up 1.2% with VAU up 3.2%. Lithium saw some gains, PLS up 4.4% and MIN up 2.4% with LTR up 3.9%. ILU doing well on the rare earths play, up 5.6%. Oil and gas stocks rose, WDS up 3.9% with STO up 2.9% with KAR rising 7.6% on Q1 report. Uranium stocks gaining, as shorts covered, PDN up 4.1% and BOE up 4.0%. Banks were solid, the Big Bank Basket up to $254.43 (+0.7%). Financials were better with CGF rising 10.2% on a 3Q update. IFL rose 3.3% as DD was extended another 4 weeks to both bidders. REITs better as rate fell, 10-year yields dropping to 4.28%. Industrials firmed, with CPU up 1.0%, REA up 0.9% and JHX rallying 2.3% on news big investors are lobbying the ASX to scrutinise the takeover. In corporate news, AMP rallied 3.2% after an increase in net cash flows, BHP shipped weaker-than-expected volume of Australian iron ore over the past three months. PLS blamed the cyclone for a production drop, up 4.4%. WTC fell 2.2% as ASIC looking at White’s trades. On the economic front, we got jobs numbers, 4.1% with 32k new jobs slightly below forecasts. Asian Japan up 0.8%, HK up 1.3% and China off 0.2%. 

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