The ASX 200 pushes 23 points higher to 7388 (0.3%) in thin listless trade as Xmas approaches. Banks led the market higher as the Big Bank Basket rose to $177.40 (0.44%) with CBA up 0.3% and NAB gaining 0.6%. MQG rose 0.6% and insurers also did well as bonds rose slightly. MFG saw a 5.2% rise after CIO goes on the charm offensive. Healthcare also doing well as CV19 cases soar in NSW and testing increases. CSL up 0.4%, SHL doing very well and RMD up 0.8%. Industrials were firm with WES up 0.5%, REH up 1.5% and TCL rising 0.6%. REITs firmed on defensive moves.
Tech came under a little pressure as APT fell 2.4% and WTC dropped 2.6% on a sell down by the founder. The All-TechIndex fell 0.4%. Iron ore miners are a little out of favour as prices fell, BHP down 0.3% and FMG off 1.4%. Lithiumstocks were again in demand as mergers overseas and broker upgrades helping sentiment. SYR knocked the ball out of the park with a 23.0% rise after an offtake agreement with Tesla and LYC firmed 1.8% on Chinese merger moves. Gold miners also in demand as bullion rose on a lower USD. NCM up 1.0% and NST gaining 0.2%.
In corporate news, BET rose 7.0% after a deal for a partnership in Nevada. MFG released a video update from the CIO and BGA dropped 10.3% on supply chain issues in an update. Nothing on the economic front. NSW moves on masks and QR codes and some restrictions.
MT Christmas Advent Sale! This works like an advent calendar – we’ll be revealing a new sale offer for you every other day until Christmas and you have two days to redeem each offer. Once it’s gone, it’s gone forever!