End of Day Report – Tuesday 3 December: ASX jumps 47 to new record | ZIP Chair resigns

ASX 200 rose 47 points to a new record of 8495 (0.6%). Gains across the board with the solid bank sector remaining the bedrock. ANZ up 1.1% and NAB up 0.8%. CBA lost 0.3% with the Big Bank Basket up to $262.70 (0.2%). MQG kicked 1.2% higher and other financials joined the fun, ASX up 0.5% with NWL bouncing 3.7%. Insurers firmed and REITS in the green. GMG up 1.0% and SCG up 0.3%. Industrials continued higher, WES remains a standout up 0.9% with BXB also in demand, up 1.6% with ALL putting on 1.9%. Tech also doing well, with XRO up 1.5% and 360 up 3.8%. WTC missed the memo down 1.4% with the All-Tech Index up 1.3%. Resources were a little mixed, FMG jumped 2.1% with PLS up 2.9% and MIN doing well again up 2.6%. Gold miners were mixed as NST fell %, dragging DEG down too. VAU up 1.5% on takeover speculation. Oil and gas better, WDS up 0.5% and KAR up 0.7%. Uranium mixed, PDN up 1.6% and BOE down 2.2%. In corporate news, CKF downgraded the outlook, falling 4.3%. SDF rallied 2.7% on an all clear from irregularities, ZIP fell 0.6% as founder Diamond sold down and resigned. In economic news, consumer confidence jumped and the current account deficit came in higher than expected. Asian markets were better, Japan up 2.3% and China flat but HK up 0.1%. 10-year yields 4.31%.

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