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January 27, 2023 13 min

ASX 200 rose 26 points to 7494 (+0.3%) for the fourth week of gains. Resources and banks better. BHP leading the way up 0.6% with FMG in stasis after record production numbers. Lithium stocks saw some sector rotation as PLS saw some take money off the table falling 4.1% and IGO down 0.5%. Others rose like VUL and LTR. Gold miners fell NCM down 2.3% and DEG off 1.3% with SBM having a better day than Wednesday, up 5.0%. Coal stocks were hit hard with WHC down 6.6% and NHC off 9.0%. Oil and gas mixed despite better crude prices. WDS off 2.4% and STO flat.  Banks did well again with the Big Bank Basket up to $190.55 (+1.0%). CBA leading the charge hitting highs up 0.9%. ANZ also in demand up 1.5% with insurers doing ok, QBE up 1.0% and SUN better by 0.8%. REITs firmed despite 10-year yields up to 3.56% GMG up 2.6% and MGR up 1.3%. Tech doing ok. WTC up 2.6% and XRO finding some support up 1.6%. The Index up 0.8%. Industrials firm. WOW up 1.2% and WES up 0.6%. Healthcare eased CSL down % and RMD rallying 2.3% on better-than-expected results. In corporate news, a few quarterlies, FMG and RMD some of the bigger ones, TYR up 4.0% on Potentia given DD, VEA got approval to buy Coles Express. SHV bounced 4.6% on a dismal harvest and ORG up 0.7% on a lift to earnings guidance. In economics, PPI out and import-export prices. Asian markets still affected by closures, Japan flat. 10-year yields at 3.58%. Dow Jones futures down 16 points. NASDAQ futures down 71 points. 

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