ASX 200 rallies 82 points to close at 7649 (1.1%) a long way from the high of the day at 7679. Euphoria gave way to some pre-tech result nerves. No news over the weekend on Israel or Iran helped early sentiment with broad-based gains across the board. Iron ore stocks in demand, BHP up 1.8% with RIO modestly higher despite copper heading to $10,000. Nickel stocks back as the metal hits a 7-month high, IGO up 2.3% and S32 doing well on a production report, up 5.6%. Gold miners slipped as tensions eased, EVN down 1.5% and NST off 1.4%. Oil and gas in a similar boat, WDS down 2.6% with STO off % and KAR copping some downgrades down %. Banks firmed but well off highs as Citi plays the ‘widowmaker’ trade and says sell banks. CBA up 0.9% and the Big Bank Basket up to $200.24 (+0.8%). MQG doing well up 1.8% with NWL in focus up 4.6%. REITs better despite bond yields rising, SGP up 1.6% and MGR up 0.9%. Industrials solid, WOW and COL up around 1.5%. QAN gained 3.6% on easing tensions and lower oil prices, TLS is up 1.4%, and CSL is doing very well, up 2.2% with COH to rallying 2.3%. In corporate news, some production reports out, BOE produced its first drum from Honeymoon. AIZ downgraded again, SGR fell again as inquiry continues. Dead man walking really. In economic news, China left rates unchanged. Asian market mixed, Japan up 0.6%, HK up 1.8% and China down slightly. 10-year yields higher at 4.32%
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