End of Day Report – Monday 22 December: ASX 200 up 79 to 8700 | Resources flying, banks drift higher

The ASX 200 kicked off the short week in fine style up 79 points (0.9%) to 8699 as gold and copper headed for records in Asia. Resource stocks kicked again, BHP up 1.6% with FMG up 1.7%. Gold miners in demand, NST up 4.1% and NEM up 5.2%. BGL was the only loser in the gold sector. Lithium stocks also ran, MIN up 6.2% and LTR pushed 5.5% better as it starts underground mining. Rare earths also doing ok. MEI jumped 32.1% om environmental approvals, LYC up 2.4%. Even uranium stocks glowed today, PDN up 7.0%. Banks were better with CBA up 0.3% and ANZ up 0.7%. The Big Bank Basket up to $275.41 (+0.2%). Healthcare firmed, CSL up 0.7% and PME rallied 2.3%. REITs modestly higher. Industrials mixed, WTC fell 4.2%, XRO flat. REA and CAR slightly better, retail was boosted by NCK up 9.9% on a trading update. APE also rallied hard up 6.3%.

In corporate news, DRO soared 7.9% on new director guidelines on shareholdings. IGO jumped 2.6% on commissioning a new chemical plant at Greenbushes. NXT soared 6.6% on further contract wins.

Nothing on the economic dance card.

Asian markets were firm. Japan's Nikkei up 1.9%, China up 0.8% and HK up 0.2%.

US futures – DJ up 33 Nasdaq up 95

10-year yields steady at 4.80%.

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